Bitcoin plumbs April lows as US dollar strength hits highest since May 2020
USD reaches 23-month highs while the Russian ruble joins in on the surprise gains. Bitcoin (BTC) neared new price lows for April on April 8's Wall Street open amid a fresh surge in the U.S. dollar.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView$43,000 hangs in the balanceData from Cointelegraph Markets Pro and TradingView captured another day of gloom for BTC bulls as the largest cryptocurrency slipped back under $43,000.In a classic move, BTC/USD reacted unfavorably to a resurgent dollar, with the U.S. dollar currency index (DXY) returning above 100 for the first time since....
Related News
Brisk gains encounter resistance at $42,000, but stock markets may be to blame. Bitcoin (BTC) bulls kept up the pressure on April 20 as the Wall Street open saw a return to $42,000.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView$42,000 proves troublesomeData from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching $42,220 on Bitstamp, its highest since April 11.After adding as much as 9.3% versus local lows from April 18, the pair was now in line for "interesting" behavior, according to Cointelegraph contributor Michaël van de Poppe."Things get interesting at....
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....
Multiple voices forecast a weaker dollar in the long term, starting now, in a prime boost for safe havens. Bitcoin (BTC) may get fresh support for a record-breaking year in 2021 thanks to the demise of a familiar foe: the U.S. dollar.As various sources noted this week, the dollar is trading at almost three-year lows against various currencies and five-year lows against the Swiss franc. Analyst: Long-term trend “clearly dollar weakness”Weakness in the dollar tends to translate into strength for Bitcoin, and 2020 has been the year in which the U.S. dollar currency index (DXY) has become a....
The U.S. dollar currency index breaks through resistance to hit its highest level since 2002 — to the detriment of practically everything. Bitcoin (BTC) made a fresh bid to crack $40,000 on April 28 as Wall Street trading opened to twenty-year highs for U.S. dollar strength.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewDXY now in "parabolic rally"Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting a high of $39,883 on Bitstamp before momentum waned, sending the pair $800 lower hours later.Traders had predicted what they saw as a relief bounce, with the....
The US dollar index, which tracks the greenback's strength against the strongest global foreign currencies, broke below a crucial upward sloping support.