On that initial drop today, BTCChina dropped like 8-8.5%. Gox dropped like 17%. 5x the volume on Gox. (just ballparking looking at charts)
WTF....
WTF....
exactly. house. of. cards.
The ONLY thing I can see saving this market is a lot of offline purchases like the one Loaded did and new money coming from the exchange from big hands waiting for an entry point.
But those are freaking loooooong odds. If this wasn't going into Christmas week, I'd have more faith.
I mean, right now it only take ONE large hand to liquidate in China and the market will crash. I bet 2000 coins would do it.

Yeah, I am sweating right now....