Bitcoin plummets as $9 billion Mt. Gox payout begins and government selling adds pressure

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• Bitcoin has declined 8% in the past two days amid selling by Mt. Gox bitcoin recipients and government wallets.
• The bankrupt Mt. Gox still holds about 140,000 bitcoin and has started to repay creditors and former customers.
• The negative price action in bitcoin since the start of July has broken several technical support levels. 

Bitcoin has plunged 8% over the past two days, is down 12% since the start of July, and is trading at its lowest level since February.