Monday, May 29, 2023
BitWolf
  • Home
  • Cryptocurrency
  • Blockchain
  • Nft & Metaverse
  • Market
  • Bitcoin
  • Ethereum
  • More
    • Solana
    • Litecoin
    • Dogecoin
  • Live Prices
No Result
View All Result
No Result
View All Result
BitWolf

US dollar smashes yet another 20-year high as Bitcoin price sags 2.7%

bitwolf by bitwolf
September 1, 2022
in Bitcoin
0 0
0
Home Bitcoin


BuyBitcoinswithDebitCard

Bitcoin (BTC) confronted acquainted stress on the Sept. 1 Wall Avenue open because the U.S. greenback hit recent two-decade highs.

BTC/USD 1-hour candle chart (Bitstamp). Supply: TradingView

Dealer: DXY may hit 115 earlier than ‘slowdown’

Knowledge from Cointelegraph Markets Pro and TradingView adopted BTC/USD because it fell to $19,658 on Bitstamp, down 2.7% from the day’s excessive.

The pair faced stiff resistance making an attempt to flip the necessary $20,000 mark to stable help, with macro cues additional complicating the image for bulls.

That got here within the type of a resurgent U.S. greenback index (DXY) on the day, which beat earlier peaks to succeed in 109.97, its highest since September 2002.

U.S. greenback index (DXY) 1-day candle chart. Supply: TradingView

Threat property thus broadly misplaced floor, with the S&P 500 and Nasdaq Composite Index buying and selling down 1% and a couple of%, respectively on the time of writing.

“DXY with one other robust day,” in style crypto buying and selling account Kaleo summarized on Twitter.

“Actually see zero indicators of it desirous to decelerate till ~114/115, which at this price ought to take not less than a few months.”

Different commentators, together with crypto account TXMC Trades, noted the declining Japanese yen as a further greenback booster. USD/JPY hit 140.21, marking its highest since August 1998.

RSI divergence merchants in disbelief with $DXY bull continuation. It’s virtually as if RSI is a bounded oscillator and shouldn’t be used for normal divergence

— Cheds (@BigCheds) September 1, 2022

“Greenback at ranges final seen in 2002. Key time right here it appears. Bulls want a reversal. Bears want a escape,” NorthmanTrader founder, Sven Henrich added, noting that the DXY relative power index (RSI) was “very stretched.”

Unhealthy timing?

Additional clouds on the horizon in the meantime made Sept. 15 a key date in crypto merchants’ diary.

Associated: Bitcoin mining has never been more competitive even as BTC loses 13% in August

Simply days after the August Client Worth Index (CPI) inflation print could be due, payouts as a part of the Mt. Gox rehabilitation process would start after years of authorized work.

Collectors would thus begin to obtain a share of just about 140,000 BTC, final traded at a worth under $500 a coin.

Whereas the ensuing promoting stress is a subject of debate, the launch coincides with the Ethereum Merge, where the largest altcoin by market cap jettisons proof-of-work for proof-of-Stake as its consensus algorithm.

September 15th:

– #Ethereum merge
– Mt. Gox #Bitcoin launch begins

What may go improper? pic.twitter.com/Ha5rBnpSxx

— Justin Bennett (@JustinBennettFX) August 31, 2022

Chilly ft reigned supreme throughout crypto sentiment on the day, captured by the Crypto Fear & Greed Index falling to twenty/100 — its lowest since July 18 and equivalent to “xtreme greed.”

Crypto Worry & Greed Index (screenshot). Supply: Various.me

The views and opinions expressed listed below are solely these of the creator and don’t essentially replicate the views of Cointelegraph.com. Each funding and buying and selling transfer entails danger, you must conduct your individual analysis when making a choice.



Source link

Tags: 20yearBitcoindollarhighpricesagssmashes
ShareTweetShare
bitwolf

bitwolf

Next Post
Controversial Crypto Lawyer Kyle Roche Pulls Out of Nexo, Binance.US, Solana and Dfinity Lawsuits

Controversial Crypto Lawyer Kyle Roche Pulls Out of Nexo, Binance.US, Solana and Dfinity Lawsuits

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
Bitcoin Holds Above $17K Despite DCG Uncertainty – CoinDesk

Bitcoin Holds Above $17K Despite DCG Uncertainty – CoinDesk

January 10, 2023
Bitcoin community not happy with Peter Zeihan’s criticisms on Joe Rogan podcast

Bitcoin community not happy with Peter Zeihan’s criticisms on Joe Rogan podcast

January 10, 2023
MULN Stock: Mullen Is the New Dogecoin… Without Any of the Fun

MULN Stock: Mullen Is the New Dogecoin… Without Any of the Fun

January 22, 2023
Why Polygon could play a key role in mass blockchain adoption despite MATIC’s…

Why Polygon could play a key role in mass blockchain adoption despite MATIC’s…

January 10, 2023
Coinbase says it will ‘evaluate any potential forks’ following the Merge

Coinbase says it will ‘evaluate any potential forks’ following the Merge

29
Controversial Crypto Lawyer Kyle Roche Pulls Out of Nexo, Binance.US, Solana and Dfinity Lawsuits

Controversial Crypto Lawyer Kyle Roche Pulls Out of Nexo, Binance.US, Solana and Dfinity Lawsuits

19
North Korea’s nuclear program is funded by stolen cryptocurrency. Could it collapse now that FTX has?

North Korea’s nuclear program is funded by stolen cryptocurrency. Could it collapse now that FTX has?

16
Cointelegraph Markets Pro delivers alerts for 113% gains from 5 trades in the face of 10% BTC drop

Cointelegraph Markets Pro delivers alerts for 113% gains from 5 trades in the face of 10% BTC drop

16
Ethereum: Bulls focused on flipping $1845 to support

Ethereum: Bulls focused on flipping $1845 to support

May 29, 2023
Gemini to Set Up Its Base in Europe, Headquarters to Be Opened in Dublin

Gemini to Set Up Its Base in Europe, Headquarters to Be Opened in Dublin

May 29, 2023
7 presidential candidates have dropped clues about their crypto stance

7 presidential candidates have dropped clues about their crypto stance

May 29, 2023
Coinmint Sues California Chipmaker for $23M, Alleging ‘Elaborate Deception’

Coinmint Sues California Chipmaker for $23M, Alleging ‘Elaborate Deception’

May 29, 2023

Recent News

Ethereum: Bulls focused on flipping $1845 to support

Ethereum: Bulls focused on flipping $1845 to support

May 29, 2023
Gemini to Set Up Its Base in Europe, Headquarters to Be Opened in Dublin

Gemini to Set Up Its Base in Europe, Headquarters to Be Opened in Dublin

May 29, 2023
7 presidential candidates have dropped clues about their crypto stance

7 presidential candidates have dropped clues about their crypto stance

May 29, 2023

Categories

  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • Dogecoin
  • Ethereum
  • Litecoin
  • Market & Analysis
  • Nft & Metaverse
  • Solana
  • Uncategorized

Tags

Big Binance Bitcoin Blockchain BNB BTC Coin Cointelegraph crypto Cryptocurrency Data Digital DOGE Dogecoin ETH Ethereum Exchange eyes FTX Heres Inu Investors Latest launch launches Litecoin LTC Magazine market Metaverse News NFT NFTs price rally Report Shiba Solana Today token Top Trading Web3 Week XRP

© 2022 BitWolf All Rights Reserved

No Result
View All Result
  • Home
  • Cryptocurrency
  • Blockchain
  • Nft & Metaverse
  • Market
  • Bitcoin
  • Ethereum
  • More
    • Solana
    • Litecoin
    • Dogecoin
  • Live Prices

© 2022 BitWolf All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Translate »