Craig Erlam, a senior market analyst at Oanda, wrote that bitcoin’s recent resilience doesn’t necessarily mean a further recovery.
“The near-term outlook is still a concern given the broader risk environment and reports of bankruptcies in the industry,” Erlam wrote. “If anything, the latter could be a bigger concern if [bitcoin] does eventually break lower.” The U.S. dollar index , a measure of the greenback relative to a basket of foreign currencies, is approaching highs unseen since 2002, Glassnode wrote in a newsletter.
The rise is driven by either a strengthening demand for USD-denominated fixed-income securities as the U.S. Federal Reserve raises interest rates or the depreciation of foreign currencies such as the euro, which recently dropped to aThe DXY has a predominantly negative correlation with bitcoin prices, and so further index increases could spell price declines for the cryptocurrency.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Frances_Coppola JimmyHe32 The ponzi rises the ponzi drops, its still a ponzi.
JimmyHe32 Yep, a lot of bad news everywhere and everytime... People are waiting btc to fall at the end of the summer because of btc black swan, China crysis, EEUU 9.1% infl. Euro and Dollar falling, Russia, etc, etc... No way people can be optimist about anything 😅
JimmyHe32 RedLunaOfficial
JimmyHe32 RedLunaOfficial
JimmyHe32
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Market Wrap: Bitcoin Surges as Fed Governor Talks Down 100 Basis Point Rate HikeU.S. Federal Reserve Governor Christopher Waller said he supports hiking interest rates by 75 basis points in July, alleviating some fears of a 100 basis-point raise. The importance of greenlight_vibe, is that they safe space for weed lovers, travelers, powerful and influential women, crypto enthusiasts Don’t be left out Funny some people are waiting for btc at 10k, lmao 🤣. A single good news is able to swing us to a new ATH. Glad I got the bottom thanks to the PHEMEX btc campaign Funny how 75 basis point increase is considered good news.
Source: CoinDesk - 🏆 291. / 63 Read more »
Market Wrap: Bitcoin Snaps Five-Day Losing Streak; Even Traders See More Hawkish FedBTC fell 4.5% minutes after the U.S. consumer price index showed June inflation rising to 9.1% but has since recovered.
Source: CoinDesk - 🏆 291. / 63 Read more »
State-Owned Swiss Bank Postfinance to Offer Clients Direct Access to Crypto Market – Featured Bitcoin NewsSwiss post office's banking unit, the state-owned Postfinance, is preparing to enter the crypto market. cryptocurrency bitcoin Please subscribe 👏👏 Something I never thought would happen_,, bullish👏👏👏
Source: BTCTN - 🏆 531. / 51 Read more »
Bitcoin Eyes $21K, Ethereum Skyrockets 11% as Another Shadow Fork Went Live (Market Watch)The crypto market has green once again, led by Ethereum's massive price surge of 11%. BTC stands well above $20K.
Source: Crypto_Potato - 🏆 568. / 51 Read more »
Bitcoin ETFs and Open Interest From BTC Futures, Options Follow Crypto Economy's Spot Market Decline – Market Updates Bitcoin NewsDuring the past eight months, data shows bitcoin futures markets and BTC-centric exchange-traded funds (ETFs) have taken deep losses during this year’s crypto bear market. why would you position long on a bear market though
Source: BTCTN - 🏆 531. / 51 Read more »
After Extreme Volatility Bitcoin Returned to $20K, Uniswap Spikes 11% (Market Watch)After a day of massive volatility, Bitcoin's price returns to $20K while Uniswap's UNI skyrockets over 11% in 24 hours.
Source: Crypto_Potato - 🏆 568. / 51 Read more »