Risky assets jumped 📈, while DXY was Weakening📉 ?!
Updated
🔻Weakening of the dollar index that caused Bitcoin crossing the $21,000 mark on Friday💹
It seems that with the weakening of the dollar index at the end of the trading week, Crypto and the stock market have received the most interest as risky assets.
A look at today's performance of the flagship cryptocurrencies shows that we have already seen a >10% return in the last 24 hours .Bitcoin (BTC/USDT) is currently at $21,186; That means a total of more than ~15% positive returns in a weekly period ;In my opinion This growth that seems to be happening mostly as a result of the temporary correction of the dollar index.
The correction of the dollar index was just when Bitcoin was on a very critical support, which could have caused a sharp fall by losing it, but fortunately with the decline of DXY, the crypto market was saved from the danger, so as long as this correction continues, bit can continue to rise more!
✌️ Good luck with your trading and investing and remember: Trade smart…OR JUST DON’T TRADE!
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👉This analysis is my personal opinion ,not a financial advice ,so do your own research.
💚 if you're fan of my analyses please follow me , drop a comment 🗯 and Boost me 🚀🚀
It seems that with the weakening of the dollar index at the end of the trading week, Crypto and the stock market have received the most interest as risky assets.
A look at today's performance of the flagship cryptocurrencies shows that we have already seen a >10% return in the last 24 hours .Bitcoin (BTC/USDT) is currently at $21,186; That means a total of more than ~15% positive returns in a weekly period ;In my opinion This growth that seems to be happening mostly as a result of the temporary correction of the dollar index.
The correction of the dollar index was just when Bitcoin was on a very critical support, which could have caused a sharp fall by losing it, but fortunately with the decline of DXY, the crypto market was saved from the danger, so as long as this correction continues, bit can continue to rise more!
✌️ Good luck with your trading and investing and remember: Trade smart…OR JUST DON’T TRADE!
--------------------------------------------------------------------------------------------------------------------
👉This analysis is my personal opinion ,not a financial advice ,so do your own research.
💚 if you're fan of my analyses please follow me , drop a comment 🗯 and Boost me 🚀🚀
Note
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✅ After the release of CPI data, the markets are pricing the terminal interest rate in early 2023 at around 4.15%. All the markets have reacted to it, from the bloody market of crypto and bitcoin to stocks and forex. With the announcement of the inflation rate, the possibility of an increase of at least 75 One unit of the interest rate will be 100% in next week's session, and the probability of an increase of 100 units is 20%.
Note
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