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Why Did Bitcoin Price Crash? Is $53,600 Imminent?
- Bitcoin faced a 5% dip followed by another 5.9% dip, reaching a bottom at $60,200.
- The crash was caused by intense seller pressure and overconfidence of investors.
- The non-market reasons for the crash were Jerome Powell's statement about rate cuts and the Israel-Iran war.
- Bitcoin might face further dip and reach $53,600 if conditions do not improve soon.
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