Bitcoin jumps back above 10,700

Bitcoin has gotten a reprieve this afternoon, buoyed by a further rebound in the US equity markets. The move higher in the Nasdaq 100 has now extended to as high as 10,997 a short while ago. As noted earlier, and several times previously, the Nasdaq led the other US indexes higher. That in turn has taken the upside pressure off the dollar and allowed the EUR/USD to make some progress. The knock on effect of that; is that it has allowed Bitcoin to jump back above 10,500, to as high as 10,721 a short while ago. It has just backed off from that rebound high. It is currently trading around 10,650 and of course still subject to how the equity markets and the dollar continue to perform into the US close tonight. Right now it looks positive for Bitcoin in the very short term, but that is of course subject to immediate change with little notice