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Will Bitcoin Price Crash? $5.64 Billion in Profits Cashed Out
- $5.64 billion in realized Bitcoin profits were recorded in the past 24 hours.
- Bitcoin could drop to $58,000 or lower if it breaks and closes a daily candle below $60,000.
- Currently, 54.05% of top traders hold short positions, while 45.95% hold long positions.
- The bearish price action pattern and significant profit-taking suggest a potential price decline for Bitcoin.
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