All-time highs next? Bitcoin holds $62K as the dollar index tumbles to 3-week...
The U.S. dollar index reached its lowest levels in three weeks on Oct. 19, triggering a rising wedge pattern. The U.S. dollar index (DXY) could continue its slide in Q4, according to a classic technical setup known as a “rising wedge.” The greenback’s bearish prospects may boost Bitcoin’s (BTC) price to new all-time highs as it holds above $62,000.DXY poised for another 1.75% dropRising wedges are bearish reversal patterns that begin wide at the bottom but contract as the price increases. As a result, the trading range narrows, which makes the rally unconvincing. That typically prompts the....
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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....
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....
The combined value of all cryptocurrencies hit $2.5 trillion as the price of Bitcoin and Ether rise steadily. The total cryptocurrency market capitalization broke $2.5 trillion as the United States Securities and Exchange Commission seems to be open to approving additional crypto futures-linked exchange-traded funds.According to data from Cointelegraph Markets Pro, the value of all cryptocurrencies has more than doubled since hitting a $1 trillion market capitalization in January. The prices of Bitcoin (BTC) and Ether (ETH) rose to more than $63,000 and $3,800, respectively, as the total....
Ripple started a major decline below the $0.4200 and $0.4000 support levels against the US Dollar. XRP price is gaining momentum, but approaching the key 100-day simple moving average and $0.3200. Ripple started a strong decline from well above $0.5000 against the US dollar after SEC’s threat. The price is now trading well below $0.4000, […]
A rare 2% daily loss for the U.S. dollar index gives Bitcoin and stocks an opportunity for gains, but BTC still undercuts the rest on volatility. Bitcoin (BTC) held gains above $21,000 into Nov. 5 as the U.S. dollar posted a rare major daily decline.BTC/USD 1-day candle chart (Bitstamp). Source: TradingViewDollar dives 2% as risk assets recoverData from Cointelegraph Markets Pro and TradingView showed BTC/USD building on prior strength to hit highs of $21,473 on Bitstamp — a new seven-week high.The pair had benefited from the latest United States economic data, while the dollar conversely....