How The Dollar (DXY) Index Is Responsible For Today’s Bitcoin Carnage
Bitcoin price is down $800 in just over 24 hours, and elsewhere in the finance space, there is pure carnage. Gold fell below $1900, and stocks are downward spiraling. And behind it all is the dollar. But why is the Dollar Currency Index (DXY) potentially responsible for the market-wide collapse and what exactly is driving […]
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The ongoing Bitcoin rally brought investor interest back to altcoins in a big way, but as soon as the top-ranked cryptocurrency made it above $19,000, it has been nothing but carnage for Ethereum and the rest of the altcoin space. Here’s why these assets faced carnage as soon as Bitcoin hit $19,500, and why it […]
Bitcoin has been explosive for the past few weeks now, revisiting highs from 2019. But before the leading cryptocurrency by market cap could set a higher high and confirm a bull market, the dollar’s recovery might have gotten in the way. According to the DXY Dollar Currency Index, the greenback has formed a rounding bottom and broken upward out from a falling wedge reversal pattern. But why exactly is this bearish for Bitcoin, and what […]
During the January crypto derisking carnage, it seems small cap altcoins have come out as the losers as they look to end the month 35% in the red. Small Cap Altcoins Suffer The Largest Losses In January Bloodbath As per the latest weekly report from Arcane Research, it looks like the smaller the coins, the greater have been their losses during the January carnage. Based on the market cap of each crypto, all the coins can be put into different groups. These “market cap weighted indexes” include mainly three divisions, the “large cap index,” the “mid cap....
Today’s top meme coins have lost 4.8% in value against the U.S. dollar, as the crypto market carnage has wreaked havoc across the entire digital currency economy. While dogecoin had a phenomenal year in 2021, over the past 12 months, dogecoin lost 82.8% against the USD. DOGE Tapped an All-Time High a Year Ago Today, Meme Coin Value Is Down 82% Since That Point Meme coin assets are down this week following the rest of the crypto economy’s downward spiral. Statistics show that dogecoin (DOGE) has shed 14% in value during the past month and 30 day stats show shiba inu (SHIB) is....
In 2022, the U.S. dollar has been very strong, despite the global economy’s downturn and the rising inflation worldwide. 12 days ago, the U.S. Dollar Index (DXY) rallied to a high of 114.8 and since then, the index has pulled pack and a recent analysis from economists at Société Générale notes that the index will likely rally back toward the 114.8 high.
Greenback Index Starts Climbing Again After the Recent Pullback, Société Générale Economists See a ‘Prevalence of Upward Momentum’
The U.S. dollar, otherwise known as....