Today news
About the same in other media
Bitcoin could hike, despite its correlation with DXY playing spoilsport
Reading now: 304
The first week of November for Bitcoin was nowhere close to October’s first week gains of over 25%. While BTC is well above $65k now, the sideways movement that succeeded its last ATH left market participants skeptical of the king coin’s trajectory.
While there seemed to be no particular reason for the recent consolidation, there are some factors that may have directed this worrying trend.
Interestingly, there’s an inversely proportional relationship between DXY and BTC’s trajectory.
The DXY is an index that tracks the performance of the U.S dollar and over the last few years, BTC and the DXY have presented a striking relationship – Whenever DXY goes up, BTC’s price goes down, and vice versa.
In fact, in November, the hike in DXY seemed to
Read more on ambcrypto.comAbout this in other media
Massive inflows into Bitcoin, Ethereum prove this despite corrections ambcrypto.com /3 years ago
El Salvador To Build World's 1st "Bitcoin City" With Money From $1 Billion Bitcoin-Backed Bond ndtv.com /3 years ago
El Salvador: Adopting ‘junk-grade’ Bitcoin bond will have these repercussions ambcrypto.com /3 years ago
Show more
The website finance-news.co is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
