dollar / 6 posts found
Dollar Index (DXY) Parabolic Rise Breaks Down as US Inflation Declines
The U.S. dollar index negatively correlates with traditional stocks and the cryptocurrency market. If the DXY has indeed already reached the macro top of this cycle, it is likely that Bitcoin has already recorded or is close to the macro bottom of an ongoing bear market. The latest economic data from the United States shows that inflation in October 2022 fell more sharply than expected. This gives hope for U.S. consumers and is good news for the Federal Reserve (Fed), which has been trying to lower the Consumer Price Index (CPI) for months. The U.S. CPI came in at 7.7% […]
The Dollar Is at a 20-Year High. That’s Bad News for Bitcoin
Cryptocurrency Key Takeaways The dollar index has jumped to 20-year highs above 112 thanks to the Federal Reserve’s economic tightening policy. While the dollar is soaring, Bitcoin and other cryptocurrencies are struggling due to the Fed’s interest rate hikes. While the dollar is currently rising against other currencies, a decline in inflation or an end to the European energy crisis could revive interest in risk assets. Bitcoin and the broader crypto market are struggling to stay above their June lows due to renewed strength from the dollar. Cryptocurrency BTC Down as DXY Rallies Bitcoin is battling against the dollar—and it’s […]
U.S. Dollar Index (DXY) Reaches Long-Term Resistance
The U.S. Dollar Index, which has experienced rapid growth in recent weeks, has reached long-term resistance. Much depends on the DXY’s further movements, not only in the broad financial sector, but also in the Bitcoin and cryptocurrency markets. A rise in the U.S. Dollar Index is often a signal of uncertainty and fear in financial markets. Moreover, the DXY has a long-term negative correlation with the price of Bitcoin and the cryptocurrency market. The latest releases of quarterly reports from major U.S. companies came in below expectations. Then, investors continue to take into account the unstable global situation with the […]
