Bitcoin Faces Intense Sell-Offs: Key Support and Resistance Levels to Watch

Bitcoin (BTC) is under substantial pressure due to massive sell-offs by the Mt. Gox exchange and German authorities. This has resulted in significant market fluctuations as these entities liquidate their Bitcoin holdings rapidly. Germany recently transferred 16,038 BTC from government wallets to various crypto exchanges and market makers, aiming to quickly offload their Bitcoin assets.