Crypto is having a tough day
The good news for Bitcoin is that the Mt. Gox trustee won’t necessarily sell any more Bitcoin but that’s not helping the market today. The company was moved into civil rehabilitation and it means clients could be repaid in Bitcoin.
At the same time, Japanese officials have told crypto exchanges to beef up protections against money laundering.
Bitcoin is down 9% with prices down a whopping $604 to $6116 with prices briefly falling below the low from earlier this month. Ethereum is also down 11% and Litecoin is down 13%.
Technically, Bitcoin needs to make a stand in the very near future.