Bitcoin price approaches potential springboard to $23K as DXY cools surge
With support and resistance inches from spot price, BTC/USD has increasingly little room to consolidate.
Auto Added by WPeMatico
With support and resistance inches from spot price, BTC/USD has increasingly little room to consolidate.
BTC/USD falls $1,000 while spot gold gives up 2% as USD strength intensifies, beating the year's previous peaks.
Market pundits anticipate the dollar rally to either stall or correct by the end of 2022, benefiting Bitcoin.
Bitcoin price action will seal monthly losses over 40% for the first time in 11 years if it closes at $19,000.
Looming macroeconomic concerns and this week’s $1B ETH options expiry threaten to pin Ethereum price under the $1,800 support.
Strong euro and overbought readings could pressure the dollar further, showing signs of topping out—Bitcoin at risk of falling.
Macro conditions flip to reduce pressure on risk assets, as one view gives Bitcoin bears $14,000 capitulation "hopium."
A failure to hold $40,000 comes as the U.S. dollar currency index finally weakens.
A lot rests on the U.S. dollar cooling its bull run and fast, Michaël van de Poppe says, with Bitcoin's upside potential still impressive.
As the U.S. dollar challenges March 2020 highs, all bets are off when it comes to fresh Bitcoin price strength.