Bitcoin steps back from the record high at 93,462 seen yesterday

If you look at a chart of Bitcoin over the past two days you will see it reached a new all time high yesterday afternoon right on, or just after the 4pm London FX fix. So, the reader is once again reminded for the umpteenth time, just how often you might see the extreme of any given day set around that time. This is important to note if you are trading this one. So, BTC peaked at a new record level of 93,462. However, until now it has not been able to hold the gain and it has fallen back to a low very late yesterday evening, around 88,010. It has recovered from that low today, but so far the price action looks more sideways. The range seen today has been covered by 88,462 to 90,630. The rebound in US yields since yesterday afternoon might be providing something of a headwind for the time being. BTC is currently trading at 89,905