📉 Bitcoin's recent dip to 53-day lows may be due to a "cascading long squeeze," says analyst Willy Woo. This is when investors betting on a price rise start selling as the price falls, causing further drops. CoinGlass data suggests a dip below $60,000 could wipe $1.16 billion in long positions. Meanwhile, Woo also highlights ongoing "post-halving miners capitulation," where miners sell Bitcoin if the price falls too low, making mining unprofitable. Despite the fear in the market, Bitcoin is still trading above $60,000. So, keep calm and HODL on! 😎