Bitcoin backs off from a further rebound above 45k

Since the last update here on the progress of Bitcoin it has made further gains. There was little sign of it backing off yesterday and in fact it was exactly the opposite as the lead cryptocurrency pushed its wat above 44k into the 4pm London FX fix. That move later extended to around 44,500 ahead of the wider US market close. The further gains a short while ago this morning saw it punch above 45k, to as high as 45,489. This further rise comes despite yet more upside in the US and European bond yields, so it is clearly defying the most recent usual drivers that have tended to send it in the opposite direction. Readers here will remember the highlighted next target level that was noted here yesterday, at 46,370 and that remains in focus again today. The range seen so far has been covered by 43,594 to 45,489. Bitcoin is just now trading at 44,785