Bitcoin backs off from above 102k as uncertainty returns

The news that lifted all risk based markets yesterday afternoon was not lost on Bitcoin. As covered earlier in the day, BTC has slumped more than 15% from the high last week, when it tumbled to a low at 91,304. The rebound that followed US stocks higher and the dollar lower, saw BTC rise steeply into the wider US market close. That more than 10% rebound saw BTC reach 102,555 earlier today. However, it has backed away from that high now, dropping back to set a session low so far, at 98,378. Well, if it is volatility you wanted then you have that in abundance right now for sure. The outlook remains incredibly unpredictable at the moment and this is still very much a headline driven markets. Actually you can apply that tenet across the whole market right now too. The China news this morning is so far controlling that dynamic. but there is much more to come most likely. BTC is right now at 99,560