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Bitcoin rebound stalls for now ahead of 31k

20 May, 2022

Yesterday Bitcoin rebounded back above 29k and later rose above 30k, as the combination of lower US yields and a lower dollar seemed to attract fresh buyers. That helped Bitcoin rise to touch 30,500 just after the 4pm London FX fix. Earlier today it managed to extend upon that rise slightly, when lifting to as high as 30,722. However, it could not sustain the move and did just dip below 30k once more. The low seen not long ago was set at 29,992. It is moving a little higher since, but it is yet to threaten the earlier Asian highs. Once again today, much could depend on all that surrounds BTC, with risk, the dollar and bond yields all integral to that. Bitcoin is currently trading at 30,100

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