Risk on is back in a very big way today with US equities putting in a gap-and-go from the open. It’s not just stocks that are rallying, however, as Bitcoin has been pushing higher and this makes the Friday test of 100k look like confirmed support. Perhaps more attractive for bulls is the fact that that Friday test of 100k couldn’t quite get down for a fresh low – buyers came in ahead of a re-test and that illustrates some element of bullish anticipation. But, as I looked at in the article on the matter on Wednesday, the big question now is whether sellers will use this bounce to reduce exposure, driven by the fear ... (full story)