Bitcoin appears to be running out of steam again

As noted here yesterday, the failure to make a move above 65K for Bitcoin yesterday was partly to blame for the subsequent drop back to as low as 61,335 ahead of the wider US market close. The earlier attempts to rebound again today have also now run out of steam for the time being and that is now delivering a gradual erosion of the price. The lead cryptocurrency is now falling back close to 62k after stalling around 63,500 earlier this morning. The move lower could certainly extend too, but it will depend on what stops are in place now ahead of, or after that low point set yesterday. The immediate chart dynamic does not look especially favourable right now either. Bitcoin is currently not far off session lows, trading at 62,210