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Bitcoin reclaims 47k

Earlier this morning, as covered in an update here, Bitcoin fell back to a low at 45,650. Since then it has risen steadily and a short while ago it rose back above 47k again. The high on this run has just been set at 47,179. So, it is still south of the overnight high, at 47,705. The ETF news covered here many times already is clearly the driver behind this further rebound and once again we wait and see, if there is enough gas in the tank to take this above 48k later today. If the dollar weakens on CPI disappointment, then that could be a catalyst for another push higher, but we will have to see if that materialises in the next 90 minutes, or so. Bitcoin is currently trading at 47,150

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