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.
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 …
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