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No return to above 70k for BTC in weekend trading

Last week Bitcoin topped out at around 71,960. The high was set on Tuesday and since then it has been rather struggling for traction. It is surely fair to say; that the rise in US yields since then has had a negative impact on the price action. That has helped the dollar to rebound and stunt any further gains in US stocks, outside of the tech sector. So, BTC fell back to a low at 66,300 on Thursday. A rebound on Friday set up the prospect of potential recovery above 70k in weekend trading. However, that did not happen and BTC stalled around 69,600 on Saturday. A further lack of traction since has seen it drop back towards 68k late yesterday evening. BTC based out then at 68,180, but rebounded into the Asian session today, peaking earlier at 69,300. It is lower right now though and a little earlier it dropped back close to that Sunday low. The low seen so far has been set at 68,335. Hence, it looks like 68-70k has the range for the time being, with a break either side possibly delivering some kind of extension. Bitcoin is currently trading at 68,560

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