Bitcoin reclaims levels above 51k

The rebound in Bitcoin that started from the weekend extended a little more yesterday as the price eventually rose back above 50k late yesterday evening. That move has further extended today as the price reclaims the 51k handle. The move higher today has reached to as high as 51,420 so far and the interesting level a little higher up, that it is yet to reach, is an open price gap that was created by the weekend meltdown. That is in place at 51,800 and of course it is yet to be filled. It remains to be seen if it will, although it does rather look like it soon could be at this moment in the session. It also remains to be seen what will happen, once and if that does unfold. Will it continue to rebound, or will that be just a technical retracement and nothing more? The jury is out on that for now, but one thing is crystal clear; BTC is clearly in lockstep with the wider risk dynamics and the equity markets. That is clearly well demonstrated by the further rebound in both so far today. Bitcoin is currently trading at 51,110