WHY $BTC DUMPED and RECLAIMS 100k LAST NIGHT?

one of the key is about DXY, what is DXY?

DXY is an index that measures the strength of the US dollar against six major world currencies like (EUR, JPY, GBP, CAD).

so if DXY is up, it means the USD is strengthening relative to these currencies.

the key is here: DXY up => BTC down.

and vice-versa. look at the chart!! it is highly correlated to BTC, just look the similarity! same pattern right?

analyzing DXY is way more easier than analyzing BTC itself.

whats make DXY rise:

1. USD liquidty

just like yesterday news, US president announce about tariffs. it makes other non-dollar countries converted their currencies to USD, making DXY is up so BTC dumped to 93K.

2. US Interest Rates

if US interest rates rise, the DXY tends to rise as investors seek higher yields.it happens last week when FED announced they will cut-rate making DXY fall and BTC pump to 105k++

3. US Economy Fundamental

its about other data like GDP, PMI, JOLTS, NFP and etc that we'll discuss it later

Fundamental ALWAYS move the Market, while Technical is for timing the Market

read more=>JUST SIDEWAYS, NOT BEARMARKET

$ETH #MarketPullback #macroeconomy

thanks to: @hoteliercrypto