There is no volume outwith the Bitstamp insider circlejerking trading swishing clutches of Bitcoins backwards and forwards trying to net in as many little fishes as possible. If the little fishes aren't biting at these prices (they aren't) then it is down to the next level.

We have had our short squeezing dead cat bounce, and now the grind down continues with the sharp price dip a coming around the mountain. Look back over the 1 day chart and you will see the recurring fractal of crash-bounce-grind-down-crash, and you will see the exact same thing looks to be happening once again, but with the time intervals between 'cycles' becoming less and less.

Fact is, Bitcoin has no business being way up in 4 or even higher 3 digits at this stage and got there due to a combination of China and speculators suffering from 'irrational exuberance'. China is gone/going, the exuberance has been replaced by a largely bearish sentiment, and there are other gremlins in the mix such as the Gox-coins, hacker coins, seized coins.

If I hadn't vowed to myself to stop trading with leverage, I would short Bitcoin right now at $450. A few more days perhaps of Bitstamp circlejerk trade volume and then down we go.