Bitcoin takes out 62k

Bitcoin has just taken a hit lower. The price has recently dropped below 62k for the first time today and the move through there was rapid. The move to as low as 61,506 looked like it was an exercise in stop loss hunting below the noted interim double bottom that had been put in place just above 62k. That was discussed in earlier updates here today and all the while the price failed to clear significantly higher, there was always a risk of this happening. That risk was clearly outlined here this morning. The move lower may have been helped by comments out of Russia a little earlier, noting that the country was said to be unwilling and not ready to adopt a BTC based ETF within its borders. If that was a catalyst for the move, then it was certainly a delayed reaction. Bitcoin is just now trading at 61,850 and the price action is incredibly rapid and unpredictable