Bitcoin edges back towards session lows

Bitcoin is losing some traction right now. That move does appear rather at odds with the general risk positive dynamic that is in place today. Equity markets are making progress here in Europe and the whole vista looks pretty benign right now. Of course this is just immediate price action and may not count for very much at the end of the day. Perhaps there are weak intraday longs with stops close by and that might be the reason for the downside more right now. The current session low is still intact from earlier on, at 50,477, but naturally a break below this level could trip some short term stops, with the potential for more to lie in wait, at or just below 50k if that move does unfold. Bitcoin is currently trading at 50,565