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Bitcoin closing in on 60k again
Just as this update is being typed, Bitcoin is falling back close to the 60k level once more. The further fall now today has seen it drop below the Asian lows and hence very close to the low seen yesterday, at 59,988. The risks of a deeper drop below 60k from here will become more elevated if that prior low is surpassed to the downside. As to how far remains to be seen, but looking around the wider markets right now, the risk backdrop looks vulnerable. If that does deteriorate further then it would be logical to expect a further unwind in BTC. It is still holding that 60k level for the time being though.The low seen a short while ago was set at 60,190 and it is currently trading at around 60,365
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