$BTC went down because of huge selling pressure and spoofy orders which was initially caused by German government first and then mt gox

Mt gox moved $2.7b worth of btc just before the daily closing and dumped it on open market which broke the 56k support . Institutions are still holding their btc as their purchase level is around 44k , now if mt gox purchase back the amount of btc after getting their profit then market can go up fast ,

On other hand institutions can dump also which will cause btc to go down more maybe under 44k .

This move was unpredictable which cause huge loss .