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Bitcoin (BTC) overnight fell all the way back to $65,300, but has since bounced back to the $67,000 area shortly before the open of U.S. stocks.
A check of the charts shows this is the third time bitcoin has dropped to the mid-$60,000 range since its panicky February 6 bottom.
The previous two “re-tests” of that February 6 bottom — February 24 and March 29 — worked out for the bulls, with prices quickly recovering back above $70,000 and eventually to $83,000 by mid-May.
What happens on this third occasion remains to be seen.
U.S. stock index futures are little changed after another round of record highs on Tuesday. The price of oil and bond yields are both modestly higher.
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