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BTC punches its way above 58k and backs off
The surge in the dollar and gains in stocks provided the perfect excuse for punters to push Bitcoin above any remaining resistance above 57,500 and press on above 58k. The price lifted close to 58,500 on the break, but it has backed off since. The US stock markets will shortly reopen and the acid test will be whether or not the cash indexes belie the gains seen in the futures ahead of the opening. It was already noted; this was clearly an overreaction to the claims data, but in the absence of anything else out today, it provided the perfect excuse for a risk-on move which supported the dollar and stocks and because of the recent dynamics, allowed BTC to make a move higher. It is currently trading at 57,940
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