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Bitcoin recovers above 67k as US stock futures advance
The US equity market futures are higher this morning and that has seemingly supported a rebound in Bitcoin. The unravelling of the long BTC earlier this week saw it fall to a low yesterday afternoon, at 63,451. However, the rebound since then has delivered a move close to 67,500 today. That fall yesterday stopped just short of the 50 day moving average (63,388) and the further recovery today would suggest the worst might be over for the lead coin? The price action all week has been largely due to the risk dynamic and forced selling of BTC as part of a wider unwind trade. If that is now over, then BTC could advance, but right now it is probably not a certain outcome just yet. BTC is currently trading at 66,925
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