Bitcoin back above 47k today

The grind higher in Bitcoin has continued so far today. The lead cryptocurrency has now risen back above 47k. The gain comes as Ether makes some progress too, but the relative price between the two leading coins has moved marginally in favour of BTC over the past few hours. That has helped it back above 47k today at the same time as Ether continues to reject a move above 3,450, as was noted here a little earlier this morning. The move back above 47k is far from conclusive though and BTC will need to recover levels above 50k to probably really ignite topside enthusiasm. To be honest there is no view here on that prospect right now and still this seems to be in a corrective mode despite making some further progress so far today. Bitcoin is just now trading at 47,080