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Bitcoin gives it up yet again
Just as the US CPI data hit the screens, Bitcoin rose to its best levels of the day, at around 61,800. However, since then it has been handing back all those immediate gains and more. BTC has now slipped back underneath 60k. The reason for the slide seems once again to reside with a corresponding fall back in the Nasdaq 100. That was already coming off its opening highs, as noted in the penultimate update here. Well, you can see how once again, BTC seems to be the victim of all that surrounds and its life is not its own. So, it is back under pressure right now and the more times this keeps happening, it might not mode well for Bitcoin. The repeated failure to hold gains above 60k is surely becoming rather tedious for those that would advocate a further advance? Maybe it is now just a question of time before a few more towels get chucked into the ring? Bitcoin is currently trading at 59,520
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