Can Bitcoin repeat a 2017-like rally as dollar correlation reverses?

There is a common belief that when the U.S. dollar declines relative to other main global currencies, as measured by the Dollar Strength Index (DXY), the impact on Bitcoin (BTC) is positive, and vice versa. For instance, the DXY index dropped from 103.0 on Jan. 2017 to a 92.6 low on Aug. 2017, while Bitcoin … Read more

Bitcoin nears worst monthly losses since 2011 with BTC price at $19K

Bitcoin (BTC) drifted further downhill into the June 30 Wall Street open as United States equities opened with a whimper. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView U.S. dollar returns to multi-decade highs Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it abandoned $19,000 to hit its lowest in over ten days. Bulls failed … Read more

Ethereum price dips below the $1.8K support as bears prepare for Friday’s $1B options expiry

Ether’s (ETH) performance over the past three months has been less than satisfying for holders and the 50% correction since April 3 caused the altcoin to test the $1,800 support for the first time since July 2021. Ether/USD 1-day chart at Kraken. Source: TradingView Due to the volatility in stocks, investors had been seeking shelter … Read more

U.S. dollar index retreats from 20 year highs — but will DXY topping spark a Bitcoin recovery?

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 market Dollar’s correction in the last two weeks preceded twelve months of relentless buying. To recap, the greenback’s weight against the basket … Read more

Weaker dollar lifts Bitcoin to $30.7K as analyst eyes 60% BTC dominance

Bitcoin (BTC) hit 48-hour highs overnight into May 20 as U.S. dollar weakness gave bulls some much-needed respite. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Dollar strength declines after 20-year record Data from Cointelegraph Markets Pro and TradingView recorded a high of $30,725 for BTC/USD on Bitstamp. Still struggling to flip $30,000 to reliable support, … Read more