@warrior73
Recent DXY volatility, rebounding from 103.56, reflects USD strength, pressuring risk assets like cryptocurrencies. A stronger DXY reduces capital inflows into BTC and ETH, as investors favor USD-denominated assets. BTC’s negative correlation with DXY during COVID-19 turmoil supports this trend. BTC trades near $97,890, with support at $94,381, while ETH holds $2,310. Short-term, a rising DXY could push BTC to $94,381 and ETH to $2,200 within weeks. However, if DXY weakens, BTC may hit $103,491, and ETH could reach $2,850, driven by renewed risk appetite.
0 reply
0 recast
0 reaction