The recent events in the financial markets have revealed the possibility that the DXY dollar index can inversely affect the price of Bitcoin, hence, these conditions are likely to create very interesting occurrences for both currency and digital currency markets. The DXY index, now facing resistance around the 106 mark and signs of a downturn, […]
The post Analyst Predicts DXY Retreat to 102-103: Could Bitcoin Hit $90,000? appeared first on Coin Edition.
- DXY’s resistance near 106 may drive Bitcoin higher as the dollar weakens.
- Divergent views on dollar trajectory impact Bitcoin sentiment.
- Trade tensions could strengthen USD, affecting Bitcoin and forex markets.
The recent events in the financial markets have revealed the possibility that the DXY dollar index can inversely affect the price of Bitcoin, hence, these conditions are likely to create very interesting occurrences for both currency and digital currency markets. The DXY index, now facing resistance around the 106 mark and signs of a downturn, is being speculated to retreat to 102-103, which could be in sync with a rally in Bitcoin’s value.
The narrative unfolds with contrasting views on the trajectory of the U.S. dollar. On one side, there are expectations of a weaker dollar driven by factors such as Federal Reserve policies and potential trade war escalations. Mike Alfred, a seasoned investor, forecasts a decline in the DXY towards 92 by late 2025, aligning with a short-term Bitcoin surge to $90,000.
The post Analyst Predicts DXY Retreat to 102-103: Could Bitcoin Hit $90,000? appeared first on Coin Edition.
