#USFedBTCReserve
Bitcoin benefits from a weaker dollar, but credit market signals warn of possible investor caution that could prevent the bulls from making a run at $120,000.
Key takeaways:
Dollar weakness alone may not be enough for Bitcoin to reclaim $120K.
Ongoing global trade tensions add uncertainty to Bitcoin’s short-term price outlook.
Bitcoin has historically maintained an inverse relationship with the US Dollar Index (DXY), which tracks the dollar’s strength against a basket of major foreign currencies.
While this correlation shifts over time, Bitcoin’s drop below $114,000 on Friday coincided with the DXY climbing to its highest level in more than two months.
Traders are now watching for Bitcoin to reclaim the $120,000 mark as the US dollar reversed direction and began showing signs of weakness.
$BTC
$ETH
$BNB
Bitcoin benefits from a weaker dollar, but credit market signals warn of possible investor caution that could prevent the bulls from making a run at $120,000.
Key takeaways:
Dollar weakness alone may not be enough for Bitcoin to reclaim $120K.
Ongoing global trade tensions add uncertainty to Bitcoin’s short-term price outlook.
Bitcoin has historically maintained an inverse relationship with the US Dollar Index (DXY), which tracks the dollar’s strength against a basket of major foreign currencies.
While this correlation shifts over time, Bitcoin’s drop below $114,000 on Friday coincided with the DXY climbing to its highest level in more than two months.
Traders are now watching for Bitcoin to reclaim the $120,000 mark as the US dollar reversed direction and began showing signs of weakness.
$BTC
$ETH
$BNB
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
W
0.0807
-10.23%