Bitcoin flip flops with Ether again

On Friday it became apparent that there was a quite significant rotational shift taking place between Bitcoin and Ether. That shift was highlighter here and conveyed relatively promptly too. The move saw Bitcoin charge higher at the same time as Ether went in the opposite direction. The rise in Bitcoin had already been gathering pace earlier in the Asian session when it rose from a low at 52,391. The move higher really started to gather pace once 55,000 was taken out. That led the lead coin to as high as 57,400 ahead of the wider US market close. On Saturday that momentum carried it higher again and led to a break above the noted 58k level. That move topped out at 58,520 and was followed by a drop back to as low as 56,095 on Sunday morning. Since then it has rebounded again in a move that has been clearly led by Ether. Hence the roles have been turned back the other way again so far today. Bitcoin has traded back above 58k, but that is surely only due to Ether rising above 3k. It has traded to as high as 58,292 so far today and is currently trading at 57,985