BitcoinBTCbtcusdBTCUSDTCryptodollarDXYUSDXBTxbtusd

The Dollar’s Role In The Bitcoin Bloodbath Explained

Bitcoin is back trading at prices it began the month at, wiping out most of the current monthly candle. Ahead of a dangerous quarterly close, and amidst several bearish signals in the top cryptocurrency, the dollar is currently regaining strength and is a large factor in the recent market-wide selloff.
Here’s a closer look at how the dollar is impacting Bitcoin’s bull run, and why this actually could be the end of the current cycle if history repeats.
Is A Dangerous Dollar DXY Fractal Predicting Doom For Crypto?
Bitcoin price is currently on thin ice for the first time since mid-to-late 2020, after making a full recovery from the pandemic panic selloff of last March. One year later, the leading cryptocurrency is trading at nearly $50,000 more per coin, but is at risk of revisiting prices much lower.
RELATED READING | BITCOIN WEEKLY MOMENTUM INDICATOR FLIPS BEARISH FOR FIRST TIME SINCE 2020
Momentum is turning down, and after such a steep ascent, the coming correction could get nastier than many are prepared for, regardless of how bullish the first ever cryptocurrency has been. All good things must come to an end, and the end could be nigh, if a dangerous fractal in the DXY Dollar Currency Index plays out according to past cycles.
Markets are cyclical in behavior, and after Bitcoin topped in 2017 there was a bear market. What prompted that bear market in crypto, however, was a mid-term reversal in the dollar.

The dollar is waking up and partly responsible for …
Story continues on Bitcoinist

Related posts
articlesBitcoincryptocurrencyguides-and-tutorialssecurity

What happens to lost bitcoin?

Every year, millions of dollars worth of bitcoin and other digital assets are lost. In most circumstances, these coins cannot be retrieved and permanently exit the currency’s circulating supply. More often than not, lost coins can be traced back to…
BitcoinBTC Trading ViewNewsNews 1SocialTrading View

'Haven't given up on Bitcoin Futures,' says CBOE CEO

According to CBOE Global Market’s CEO Ed Tilly, the exchange is still hopeful of a comeback into the cryptocurrency space. In a recent interview given to Bloomberg, Tilly commented that the CBOE hasn?The post ‘Haven’t given up on Bitcoin Futures,’…
BitcoinBTC Trading ViewNewsNews 1SocialTrading View

Bitcoin tumbles as Kimchi premium registers new year-high

Bitcoin volatility has sent a wave of new investors into the cryptocurrency market. The price premium for Bitcoin on South Korean exchanges has been hitting a new year-high once again and this time wiThe post Bitcoin tumbles as Kimchi premium…