Bitcoin Plunges to $59,000 in Asian Trading Hours Before Pushing Back Up, Causing Concerns in Crypto Market

Bitcoin dropped to around $59,000 during early Asian trading hours after being stable at around $61,000. BTC is down 2% over the past 24 hours and 6% over the past week. Ether has not seen the same pricing pressure and is up over the past week. Sell pressure on BTC has increased due to upcoming Mt Gox bankruptcy redemptions and miner selling. Bitcoin ETFs saw $174 million in outflows as the NY market closed on Monday.