Bitcoin faces selling pressure as $5.64B in realized profits is recorded, with bearish institutional sentiment.

Bitcoin experienced a tough Wednesday, opening above $62,000 before dropping to a low of $60,300 as of this writing. This marked a 2.33% price decline within 24 hours, adding to an overall negative weekly performance, affirming the world’s largest crypto remains in a bearish trend.

Meanwhile, recent data indicates that a significant portion of investors have capitalized on their holdings, leading to billions in realized profits.

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