In the latest cryptocurrency news, Bitcoin (BTC) has experienced a significant drop, falling below the $61,000 mark. This downturn has been attributed to fears of continued selling by the US and German governments, as well as potential new sell-offs from Mt. Gox BTC holders.

The question now is whether this decline will persist or if Bitcoin has reached or is nearing its bottom. The market remains uncertain and volatile, and investors are advised to monitor the situation closely. This development underscores the inherent risks and unpredictability associated with cryptocurrency investments.

As the situation unfolds, it will be crucial to keep an eye on the actions of major government players and large-scale BTC holders, as their decisions could significantly impact the market trajectory.