Bitcoin’s sharp fall from $50K linked to stronger US dollar, gold correlation shows
The sell-off in the Bitcoin market, in particular, intensified due to excessively leveraged bullish bets. Go to Source Powered by WPeMatico
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Bitcoin price clings to $38K, but Dollar Index bounce could put BTC under pressure
Bitcoin is in wait-and-see mode as the dollar trades near two-month lows on warnings that the Fed could continue its stimulus programs. Go to Source Powered by WPeMatico
Big bullish pattern on US dollar index chart puts Bitcoin at risk of losing $30K
A strengthening dollar could be negative for pretty much every risk asset on board, including Bitcoin, whose value boomed against the dwindling greenback after March 2020. Go to Source Powered by WPeMatico
Bitcoin trader eyes US dollar for BTC price breakout cue, Ethereum clings to $2K
No sign of a breakout as $33,000 becomes resistance overnight and altcoins trade mostly flat as a result of BTC price weakness. Go to Source Powered by WPeMatico
Bitcoin, dollar plunge while S&P 500 rallies after US inflation hits 3-decade high
Data on Friday showed core personal consumption expenditure in the US surged to 3.42% year-over-year for the first time since 1991. Go to Source Powered by WPeMatico
Data suggests the strong US dollar makes Bitcoin weaker argument is flawed
Analysts and traders are linking Bitcoin’s bearish turn with the growing strength of the U.S. dollar, but data suggests otherwise. Go to Source Powered by WPeMatico
White House Defends Trillion-Dollar Stimulus While Jamie Dimon and Larry Summers Warn of Runaway Inflation
On Wednesday the White House defended President Joe Biden’s trillion-dollar spending proposals despite the criticism concerning rising inflation and low-interest rates. Inflation has risen at unprecedented levels in the U.S. and the average American’s purchasing power is growing less powerful. Now critics like JPMorgan Chase CEO Jamie Dimon and American economist Larry Summers have blasted … Read more
Number of Bitcoin wallets holding 100-1K BTC soars after Tesla’s $1.5B buy-in
New data shows a dramatic rise in the number of Bitcoin wallets holding anywhere between 100 BTC to 1,000 BTC, but there may be a catch. Go to Source Powered by WPeMatico
US Dollar Drops to a Three-Year Low, Greenback Could Dip 10% Lower, Fed Still Not Ready to Taper QE
America’s currency has been flirting with lows again, as the U.S. Dollar Index (DXY) dropped to a low of 89 on Tuesday and the following Thursday. This is the third time since April 2018, the DXY has been this weak, and some analysts think the currency could drop even lower. US Dollar ‘Is a Bit … Read more
Bitcoin price bounces at $50K amid 4-month highs for DXY
Federal Reserve Chair Jerome Powell hints that monetary stimulus could be withdrawn thanks to “substantial progress” in the U.S. economic recovery. Go to Source Powered by WPeMatico
