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Bitcoin holds back on a new record for now
An update here yesterday noted that Bitcoin could find dip buyers ahead of any fall below the 87k handle. Well, that is exactly what happened. Bitcoin stalled on the downside just below 89,500 and then lifted back above 92k once more. In fact it set a new high on the week, at 92,606, but could not threaten the current record high, at 93,462. It then fell back below 90k again ahead of the wider US close, but has been on the rebound since. Perhaps it is a little odd; that with the dollar a little on the defensive and the Yen gaining, coupled with lower US yields, that BTC has not done better. Well, perhaps we have to remember where this one is right now. It is still at very elevated, record levels when all is said and done. The range seen so far today has been covered by 90,302 to 91,855. Bitcoin is currently trading at 91,525
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