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Bitcoin rebound delivers a move to above 63k
The gains in the US stock markets yesterday, relapse in the dollar and lower US yields delivered just the right conditions to bring BTC buyers back to the fold. So, BTC rebounded further from an earlier session low at 60,634. The high seen ahead of the wider US market close was set at 62,630. It extended that move at the start of the Asian session today, rising to 63,416, before a bout of profit-taking seemed to kick in. That has taken it back to a low around 62,675 a short while ago. All that said, irrespective of the latest rebound, the price action is by and large still confined inside the 50 and 100 day moving averages. Those are in place today at 65,468 (50) and 61,291 (100). As noted here all week, those are still converging with the 50 day falling and the 100 day still rising. Bitcoin is currently trading at 62,810
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