The 200 EMA will no longer be valid as support if Bitcoin falls below $57,000. The 200 EMA acts as an important technical indicator to evaluate the general trend. If Bitcoin loses this support, it will fall into bearish territory and could even make the sell-off worse. As traders and investors lose confidence in Bitcoin's ability to sustain above key support levels, this could cause its price to fall further.
Liquidate more.
A lot of buyers may try to buck the trend and buy Bitcoin at what they consider to be a low price of around $56,000. However, there could be more liquidations if Bitcoin cannot maintain these levels. An additional sell order may be placed as a result of the buyer's stop loss order being triggered, causing the price to continue falling. Bitcoin price may find it harder to stabilize if there is more selling pressure, which would accelerate the decline.
Possible sale and deadlock.
Due to lack of liquidity, some institutional sales may end if Bitcoin falls below $57,000. As buyers and sellers wait for more favorable conditions, this scenario could lead to a sideways market where Bitcoin trades between $55,000 and $60,000. On the other hand, Bitcoin could drop to as low as $50,000 if institutions continue to sell.

The price of Bitcoin is greatly influenced by the actions of institutional investors, who hold a significant portion of the market. It may be difficult for Bitcoin to recover in the near term if the sell-off continues, as this could lead to a prolonged bear market.