Price analysis 7/10: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, SOL, LTC
The weakness in the U.S. Dollar Index bodes well for Bitcoin and altcoins in the near term.
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The weakness in the U.S. Dollar Index bodes well for Bitcoin and altcoins in the near term.
The bulls are trying to nudge Bitcoin above the critical resistance of $31,000, which may start a broad-based crypto rally.
An onslaught of Bitcoin ETF applications could help BTC price find long-lasting support at the $30,000 level.
The strength in the S&P 500 and weakness in the U.S. Dollar Index could limit the short-term downside in Bitcoin and select altcoins.
Market observers will closely watch the United States CPI data and the Fed’s policy decision to provide direction to the stock and crypto markets.
Bitcoin and several altcoins took a beating on reports that the SEC filed a suit against Binance in the United States District Court.
The debt ceiling talks remain in focus and are likely to dictate the price action in the S&P 500, DXY and cryptocurrency markets in the near term.
Bitcoin and most major altcoins are witnessing aggressive selling at higher levels, indicating that the bears are trying to make a comeback.
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