📉 Bitcoin's recent dip to a 53-day low has been attributed to a "cascading long squeeze" by analyst Willy Woo. This is when investors betting on a price rise sell off to cut losses, causing further price drops. 💣 Remember GameStop's short squeeze? It's the opposite of that! CoinGlass data shows a dip below $60,000 could wipe $1.16 billion in long positions. 😱 But don't panic! Woo also mentions "post-halving miners capitulation," where miners sell off if Bitcoin falls below a profitable level. So, is this a market correction or a buying opportunity? 🤔 Let's chat below! #Bitcoin #CryptoNews