NFT News Today Official TheBitTimes.com

Concerns over the U.S. dollar's impact on Bitcoin may be overstated by investors, particularly in the longer term. The Dollar Strength Index (DXY) achieved its highest level in nearly 10 months on Sep. 22, indicating growing confidence in the U.S. dollar compared to other fiat currencies like the British pound, euro, Japanese yen, and Swiss franc. DXY "golden cross" confir Moreover, investors are concerned that this surge in demand for the U.S. dollar might pose challenges for Bitcoin (BTC) and cryptocurrencies, although these concerns are not necessarily interconnected. U.S. Dollar Index (DXY). Source: TradingView The DXY index confirmed a golden cross pattern when the 50-day moving average surpassed the longer 200-day moving average, a signal often seen as a precursor to a bull market by technical analysts. Impacts of the recession and inflation risks Despite some investors believing that historical trends are determined solely by price patterns, it's important to...

The weakness in the U.S. Dollar Index bodes well for Bitcoin and altcoins in the near term. Bitcoin has been struggling to rise and sustain above the $31,000 level for the past few days, but Standard Chartered has painted a bullish picture for this year and the next. In a report, the bank said that Bitcoin (BTC) could reach $50,000 this year and stretch the rally to $120,000 by the end of next year. Large investors seem to be taking a bullish stance and are making the most of the stagnant Bitcoin prices. Behavioral analytics platform Santiment shows that sharks and whales, entities holding between 10 and 10,000 Bitcoin, have increased their hoarding by 71,000 Bitcoin since mid-June. Daily cryptocurrency market performance. Source: Coin360 While the long term looks bullish, macroeconomic indicators hold the key in the short term. The United States equities market is likely to be influenced by second-quarter earnings and the inflation data due to be released on July 12. That is likely ...

Bitcoin keeps the market guessing over how it will treat the 200-week moving average at $26,500. Bitcoin (BTC) cooled the volatility into the June 8 Wall Street open as market participants waited for signals BTC/USD 1-hour candle chart on Bitstamp with 200WMA. Source: TradingView BTC spot clings to 200-week moving average Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling a key long-term trend line near $26,500. After flash volatility surrounding industry news events, the pair returned to sideways trading after bouncing from three-month lows. Now, the 200-week moving average (WMA) formed a critical focus. “We are currently sitting right on the 200WMA,” trading suite Decen trader wrote in part of the day’s Analysis . Decen trader opted for a conservative view of short timeframes, warning over an increasing long/short ratio on exchanges and that the U.S. trading session may open with selling. The LTF bear case for #Bitcoin: The Long/Short ratio is continuing ...

Bitcoin and select altcoins are witnessing a pullback, indicating that traders may be booking profits and reducing risk. Pullbacks are a part and parcel of uptrends. They not only help shake out the weaker hands but also offer an opportunity for traders to add to their position or make fresh entries. Currently, Bitcoin (BTC) is witnessing a correction as bulls and the bears battle for control, but is this a buying opportunity or the start of a trend reversal? The Crypto Fear & Greed Index has risen to 69, indicating that traders have started to get greedy again. When this happens, it is time to become cautious in the near term because when new traders begin chasing prices higher, experienced traders sell into strength and buy on dips. Daily cryptocurrency market performance. Source: Coin360 ARK Invest CEO Cathie Wood said in a recent interview that Bitcoin and Ether (ETH) are being considered as safe haven assets like gold. Meanwhile, Bridgewater Associates founder Ray Dalio does ...