Bitcoin consolidates rebound

Yesterday Bitcoin managed to make a move higher, but not before it had fallen back once more. The lead cryptocurrency fell back on the session, hitting a low of 41,287 just as the US stock markets resumed live trading. However, it did not stay down there for very long and subsequently took a lead from the rebound in stocks, slightly lower US yields and a drop back in the dollar. BTC rose swiftly into the 4pm London FX fix. The price rebounded back above 42k and then later above 43k ahead of the wider US market close. The high seen was set at 43,125. It has traded mostly sideways so far today, inside a range covered by 42,475 to 42,980. That is perhaps understandable given what is coming later on today, very much in the same mode as gold which was noted in the previous update. Bitcoin is currently trading at 42,700