Bitcoin slips below 55k

So far today it has been a downside move for the leading cryptocurrencies. Ethereum is now on session lows and looks like it could easily dip below 1800 any minute. If it does, then that would extend the downside move from the weekend highs to well beyond $200. The move lower there is seemingly being led by Bitcoin. That has now broken below 55k today. There is no particular news behind the moves in either coin and looks resultant from further short term profit taking. Such a prospect was noted here earlier, in particular reference to Bitcoin. Hence it is of little surprise to see the downside move extend a little further right now. Bitcoin is currently trading at 54,900, but it has fallen to below 54,500 a short while ago. The price action on both coins is as fervent as ever today and the volatility shows little sign of abating. Bitcoin is currently trading at 54,550