Major cryptocurrencies struggle to recover following meltdown yesterday

Yesterday afternoon the drop back in Bitcoin, below 50k that was reported on here, turned into something of a flash crash as the price evaporated in the minutes following the final update. The price crumbled to around 43k. In fact, other leading coins fell even harder at the same time. The drop back below the 200 Day average on Bitcoin only exasperated the move. That moving average was in place at around 46k and the move below almost certainly tripped more stops in what was a move that only took seconds to unfold. That 200 day moving average is in place right now today at 45,965, but of course it will most likely shift if there is further volatility today. Bitcoin has traded in a range, so far covered by 46,127 to 47,367. Hence for the time being the price is holding above that technical level ahead of the European opening today. Bitcoin is just now trading at 46,370