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BTC refuses to join the party so far today
Yesterday Bitcoin made a push above its 200 day moving average (now at 58,889), when it lifted to a high at 59,450. However, as noted here, the lead coin could not sustain the move and fell back. That fall extended further earlier today, when BTC dropped to a low at 57,080. It has rebounded off that low now though, but still remains well south of that technical level. The fact that the dollar has fallen back and stocks have hit records in the US and Japan is perhaps a surprise to BTC bulls; that it has not joined in the party. Many pundits and analysts now see BTC as a store of value, but all the while it costs to hold it you can see it has clearly has been struggling to make headway in recent weeks. Perhaps if the Fed lowers rate in the coming weeks and months, then things might change? Bitcoin is currently trading at 57,755
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