Bitcoin has fallen nearly $2000 in the last 30 minutes, dropping to $57,600.
The low so far matches the one from earlier in the week and that should provide some support.
bitcoin hourly
A break lower could complete the round trip to $55,000 and wouldn’t bode well for the broader risk trade.
As for the catalyst, it may be Mt Gox money moving sending a trial transaction. The $2.1 billion worth of bitcoin could be sold and bitcoin bulls don’t want to get swept away by that momentum.
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