$WCT #CryptoScamSurge
Analysts indicate that the US Dollar Index (DXY), which gauges the dollar's strength against major currencies, is showing signs of potential improvement. They suggest the index may be nearing a bottom, hinting at a possible rebound. However, a stronger dollar could negatively impact cryptocurrencies like Bitcoin (BTC), which has historically moved inversely to the DXY. Recently, Barchart noted that the DXY is on the verge of forming a 'death cross,' a bearish signal that has previously marked market bottoms in 2018 and 2021. Swissblock's Henrik Zeberg echoed this sentiment, suggesting that while the dollar is currently downtrending, a short-term bounce may occur. Conversely, Andrea Lisi emphasized that the Nominal Broad US Dollar Index remains in a bullish channel, indicating that fears of a dollar bear market may be exaggerated. For Bitcoin, a rising DXY could lead to price declines, compounded by market factors suggesting increased volatility and selling pressure, particularly in the historically weaker third quarter.#Write2Earn #BNBBreaksATH #TrendingTopic #CryptoScamAlert $WCT
