suggests that the cryptocurrency market may be bracing for a bear market, as the U.S. Dollar Index experiences major fluctuations. The DXY, which measures the value of the U.S. dollar relative to a basket of foreign currencies, has been witnessing significant bullish moves since January 2021.
This trend has contributed to a sluggish 2022 for risk assets, includingThe decline in the DXY can have a substantial bullish impact on risk assets, with its movements often inversely correlated to the price of digital assets. In September 2022, the DXY initiated another bearish leg after inflation reached its peak. A short-term bounce is expected in early May before the DXY falls sharply from the 105-107 range.
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