Bitcoin Faces Trouble as Dollar Logs Fresh 2021 High, Researcher Warns
Key Bitcoin Takeaways Bitcoin reversed its short-term downside bias after Elon Musk introduced a new BTC payment option on Tesla online stores. Meanwhile, the US dollar index reached a fresh year-to-date after Jerome Powell’s congressional testimony on Tuesday. One researcher warned that any further strength in the US dollar market could force Bitcoin prices lower. […]
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Bitcoin price regained strength for a fresh recovery and it broke $33,500 against the US Dollar. BTC is likely to continue higher above $35,000 in the near term. Bitcoin started a fresh increase after the bulls defended the key $30,000 support. The price is now trading nicely above $33,500 and the 100 hourly simple moving […]
A growing positive correlation between Bitcoin and stocks could spell trouble for the former, according to Vlad Antonov of Santiment, a data analysis service.
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The recent nerves in the stock market and macro world has caused the dollar to surges to a new 2021 high, just as Bitcoin continues to set new records. But is the greenback’s awakening a dangerous situation for cryptocurrencies, or is something else afoot? BTC Barely Reacts As DXY Taps New 2021 High Bitcoin price is in price discovery mode, after breaking its former high set earlier in the year. The cryptocurrency is pitched as a replacement for gold, and even the dollar – the current global reserve currency. Cryptocurrencies, commodities, and everything else are priced in dollars....