Yesterday was telling for bitcoin in a potential regime change. It rallied despite a poor day in the Nasdaq in a potential shift in a correlation that’s dominated for the past two years.
Today, that move has accelerated but it’s come with a relief rally in risk assets. That’s still a good sign and the technicals are suddenly looking much better but the test going forward is going to be how it performs when we get back to the ‘sell America’ trade.
This article was written by Adam Button at www.forexlive.com.