**Bitcoin Drops Again to US$85,000, Causing Hundreds of Thousands of Traders to Be Liquidated**

Bitcoin has dropped again to US$85,000, causing more than 159,000 traders to be liquidated. Long positions dominate with a figure of US$428.85 million, and short positions contribute a figure of US$85.21 million.

This digital asset is experiencing significant bearish pressure after breaking through important support at US$88,000, triggering long liquidations worth US$200 million and canceling weeks of consolidation patterns.

Stop-loss activation and sell algorithms pushed prices further down, with resistance now at the Fibonacci level of 38.2% (US$90,590) and 50-day SMA (US$90,267), while RSI (40.37) still shows room for additional declines.

Macro pressures are also exacerbating conditions, where high inflation comments from the New York Fed and a strengthening dollar are dampening investor interest in Bitcoin, along with US Bitcoin ETFs recording an outflow of US$566 million.

On the mining side, the closure of capacity in Xinjiang forced miners to sell 4,000 $BTC to cover costs, lowering the hash price to its lowest level since the 2023 bear market. This has left the market waiting for a recovery in hash rate as an indication of miner stability.