The Rising Dollar Is a Threat to the Crypto
Bitcoin lost more than 4% during Tuesday’s active US session, barely holding above $120k. It stabilised on Wednesday at the start of the day in the $121-122K range, turning July’s resistance area into support. On the buyers’ side, gold and stock indices are at historic highs. However, we also note the strengthening of the dollar index to its highest levels since early August. If this becomes a trend, a deeper decline is inevitable.
Crypto News
Retail investors have returned to the market amid new BTC highs. The inflow of bitcoins to the exchange from small players has jumped sharply, according to CryptoQuant. In contrast, large market participants continue to build up their positions.
On-chain metrics and derivatives data point…
