Skip to main content

Bitcoin reverses downside and rises above 71k in Asian trading

Yesterday the immediate slide in Bitcoin saw it fall sharply after the US CPI data surprised to the upside. That shunted the dollar higher and smashed US stock market futures ahead of the opening. Bitcoin fell to a low at 67,482. However, it started to rebound coming into the 4pm London FX fix and once it reclaimed the 21 day moving average, then at 68,360, it did not look back into the wider US markets close. The extension to that move came earlier today and that same it rise first above 70k and then 71k. BTC topped out earlier today at 71,146, but it has backed off that higher now. The low seen since the peak has been at 70,285. It is currently trading at 70,645 and its seems the looming proximity of the next halving event has afforded it a degree of independence from the wider markets, that did not seem so likely yesterday afternoon. 
 

Ready to Get Started?

Start here. Join 2.9M Libertex users around the world!