The Bitcoin price is currently facing pressure due to two significant developments recently, the bankrupt Mt Gox Bitcoin payments and the German government sending Bitcoin to centralized exchanges. The German government has again transferred 1,300 Bitcoins to Coinbase, Kraken, and Bitstamp exchanges. It sent 400 Bitcoins worth $23.24 million each to Coinbase and Kraken and 500 Bitcoins worth $29.05 million to Bitstamp. Following this, Bitcoin dipped by almost 1% and currently trades at $57,741. In the last 24 hours, Bitcoin dropped by 4.59%, falling below the daily EMA 200 average of 58,513 dollars.

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