Bitcoin price eyes $50K as the US dollar retreats after hitting its one-year ...
Rising jobless claims in the U.S. sparked sell-offs in the dollar market. On the other hand, Bitcoin held onto its intraday gains. Bitcoin (BTC) looks to reclaim $45,000 on Oct. 1 as the United States dollar retreated lower after hitting its one-year high. Bitcoin’s tight inverse correlation with the greenback over the past month suggests that a weakening dollar could push BTC’s price even higher in the coming sessions. Bitcoin-dollar correlation on hourly chart. Source: TradingViewDollar drops following labor market shockIn detail, the U.S. Dollar Index (DXY), which measures the dollar’s....
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Ripple retested the $0.7500 resistance level before a sharp decline against the US Dollar, similar to bitcoin and ETH. XRP price is holding the $0.5500 support, but it might even test $0.5000. Ripple started a strong downside correction after it failed to clear $0.7500 against the US dollar. The price broke the $0.6000 support, but […]
Strong euro and overbought readings could pressure the dollar further, showing signs of topping out—Bitcoin at risk of falling. The U.S. dollar index (DXY) retreated broadly from its prevailing bull run in the past two weeks, dropping by up to 3.20% after hitting its two-decade high of 105.Overvaluation risks grip dollar marketDollar's correction in the last two weeks preceded twelve months of relentless buying. To recap, the greenback's weight against the basket of top foreign currencies grew by around 14.3% in a year, primarily as markets looked for safe havens against the fears of a....
Ethereum extended its rally above the $1,800 resistance against the US Dollar. ETH price is currently correcting lower from $1,840, but it might find bids near $1,750. Ethereum remained in a positive zone and it pumped above the $1,800 resistance. The price is now well above the $1,750 support and the 100 hourly simple moving […]