An attempted bitcoin (BTC) rally back toward a record high was quickly snuffed out and reversed in morning U.S. action on Thursday.

Trading just below $124,000 just ahead of the opening of the stock market, bitcoin pulled back to below $121,000 about ninety minutes later. The action happened alongside pullbacks in previously red-hot gold and silver markets.

Gold has been making most of the headlines of late, but the action in silver may have been today's driver. Up 50% from the April lows, the metal hit $50 per ounce for the first time ever on Thursday. That level, though, spurred some fast profit-taking, with the price dropping about 4% within minutes. At press time, silver was changing hands at $48.55.

"Near term, momentum looks choppy as technicals flag an increasingly overbought mar

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