Hi @TallaSreenivasaR Welcome to the Atlassian community.
There are no impact on the application deleting the old logs files from the back end server, generally logs files have a max size limit of 20 MB or as per the day once that is reached old file is renamed like atlassiab-bitbucket.logs.1, atlassiab-bitbucket.logs.2, atlassiab-bitbucket.logs.3, and so on and latest logs are getting added in the main log file i.e atlassiab-bitbucket.logs if your FS is full you can delete these *.1 , *2, *3 log files and take a backup of them in your system or S3 bucket if possible before deleting so that you can check those in case require in future.
You can create a cron job to delete the old files in case this will be repetitive tasks to avoid the manual work.
Just don't delete the main log file, if that file size is large then you can open that file and delete the old content from that file to trim it and reduce the file size,
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