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If ever you were in doubt take a look at Bitcoin now

Once again, for those that do not believe Bitcoin is ever influenced by the wider markets and economic news, this afternoon is just another example of why such a view is flawed. So, as US yields fall and stock futures rose and the dollar got smacked, BTC jumped higher. It was already on the rebound above a potentially noted resistance level north of 62k and this CPI news has sent it scurrying higher. It has traded to a high at 64,136 immediately that CPI data hit the screens. The move above 64k has now taken the lead coin closer to a potential resistance level, at 64,925. That is the price point of the current 50 day moving average and has been defining the topside since April 16. Hence, this is a pretty big level now. Bitcoin has just backed off a bit though, currently trading at 63,660
 

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