Bitcoin fights key trendline near $20K as US dollar index hits new 20-year high
Nothing can keep the U.S. dollar index (DXY) down this year, and concerns over its impact on assets beyond crypto are spreading. Bitcoin (BTC) found a new focus just under $20,000 on July 14 as U.S. dollar strength hammered out yet another two-decade high.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewDXY moves bring yen, euro into focusData from Cointelegraph Markets Pro and TradingView showed BTC/USD rebounding from lows sparked by a fresh 40-year high for U.S. inflation as per the Consumer Price Index (CPI).After briefly dipping under $19,000, the pair took a flight above....
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The year was 2009 and the dollar had just recovered from The Great Recession. Bitcoin was born and grew up while the dollar regained its throne. After ten years of strengthening, the pandemic and associated monetary response to sustain the economy, caused the almighty dollar to weaken again. And according to the Dollar Currency Index […]
The US dollar index, which tracks the greenback's strength against the strongest global foreign currencies, broke below a crucial upward sloping support.
While a classic technical indicator could be hinting at BTC price falling below $13,000 as well. Bitcoin (BTC) investors in China plan to buy the dip despite an ongoing market correction and a nationwide crypto ban, a new survey shows.Consensus sees Bitcoin at $10KA survey of 2,200 people conducted on China-based social media platform Weibo found that 8% of would buy Bitcoin when its price hits $18,000, according to Wu Blockchain. While 26% of the respondents prefer to wait until BTC reaches $15,000.But a majority anticipated the price to fall even further with 40% saying they would buy....
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. A recent run-down in the United States Dollar Index (DXY) stopped midway as investors awaited U.S. job data for a guide on the viewpoint for interest rates. Meanwhile, Bitcoin (BTC) moved inversely to the greenback.The DXY rose to its intraday high of 92.195 on Wednesday, up 0.45% from its Friday low of 91.782. The move upside took the index back above its 200-day exponential moving average (200-day EMA; the pink tide in the chart below), at 92.001.The....
Eight days ago, the euro tapped a record low against the U.S. dollar as it hit $1.028 per unit against the USD last Tuesday. This week, the official currency for 19 of the European Union’s member states reached parity against the U.S. dollar for the first time in 20 years. Euro Hits Parity Against the US Dollar, Greenback Skyrockets Against a Basket of Fiat Currencies Even though it was a goal for the European Union (EU) to introduce a sovereign fiat currency for the EU back in the sixties, the euro did not get introduced until January 1, 1999. At first, the euro was introduced....