Bitcoin drops to session lows as dollar makes further advance

Earlier today it was noted that Bitcoin had given up 50k once more. Well, since then it did rebound again, back to test 51k. However, that move has not been sustained the drop back again has now taken the lead cryptocurrency to fresh session lows underneath 49k. The rise in the dollar again this morning appears to be having a detrimental impact too, although it is not exactly clear whether that is indeed a driving force. It could be that the rather lose correlation between Bitcoin and the EUR/USD has come back into play a little today because the EUR/USD is also now at session lows. Irrespective of that, the further failure to hold ground above 50k now today does open the prospect of a deeper relapse, back below 47k as the day unfolds. Bitcoin is currently trading at 48,850