Stocks slide as dollar hits 4-month highs: Why Bitcoin price is slumping belo...
Bitcoin is slumping as the DXY breaks out and the U.S. stock market tanks. The price of Bitcoin (BTC) is extending its slump below $49,000 on March 5 as the U.S. dollar index (DXY) reached the highest levels since November 2020. DXY (blue) vs. BTC/USD (orange). Source: TradingviewMeanwhile, the prospect of rising rates and a potential stock market top is putting downward pressure on equities and Bitcoin, causing the entire cryptocurrency market to pull back.Rising treasury yields — the biggest threat to Bitcoin?Bitcoin and risk-on assets, in general, have been heavily affected by rising....
Related News
Bitcoin's (BTC) price has climbed to 15-month highs even as coronavirus-induced instability rocks the stock markets.
On Monday, January 10, the Argentina-based mobile wallet company Belo announced that the platform has added support for the Lightning Network by partnering with the bitcoin payment processor and infrastructure provider Opennode. The mobile application allows users to trade and transact in pesos and now users can transact with bitcoin payments going forward. Belo Partners With Opennode, Introduces Lightning Network Support Belo, the Argentine mobile wallet application founded by Manuel Beaudroit aims to “create a bridge” between the crypto world and life in pesos. On Monday,....
Bitcoin is holding above $16,000 amid mixed feelings about the chances of all-time highs appearing this bull run. Bitcoin (BTC) begins a new week with stocks rising and the U.S. dollar falling — all while trading back above $16,000. What’s next for price action?Cointelegraph takes a look at the factors which could shape how Bitcoin moves in the coming days. Stocks near all-time highs while USD sinksThis week’s macro environment feels somewhat different to the last — stocks are gaining, boosted by a major Asian trade deal, while the U.S. dollar is losing ground. According to the latest data....
Bitcoin's price clocked two-month highs above $12,370 on Wednesday. The options market expects a continued rally.
It could still go either way for Bitcoin price action, but one analyst believes Bitcoin is already coming out on top versus equities. Bitcoin (BTC) may continue its “bear market,” one trader says amid hope that a U.S. dollar reversal could soon improve BTC price action.In his latest YouTube update on May 2, Cointelegraph contributor Michaël van de Poppe argued that USD’s current surge would not last long.Dollar strength reversal "close"Bitcoin is still under pressure as stocks and crypto alike face the reality of a major policy flip from the U.S. Federal Reserve. Due to be announced this....