Bitcoin Faces Downward Pressure as Market Awaits Mt. Gox Payouts and Potential German Government Sales

Bitcoin, the premier cryptocurrency by market capitalization, faced a notable downturn overnight, falling by 6% to reach $54,600. This recent drop follows an already tumultuous week, where Bitcoin dipped to $54,000 on Friday before experiencing a minor rebound over the weekend to trade above $55,500. Despite the recovery, Bitcoin remains significantly below its recent peak