This Bitcoin indicator flashes once more; will BTC price decline last? Crypto Cryptocurrencies MACD
Another headwind for Bitcoin could be the U.S. dollar, which recently reached its highest level in more than a month. Bitcoin has always maintained an inverse relationship with the DXY Dollar index.
"At least in the short to medium term, Bitcoin's fortunes might still be tied to other long-duration growth assets such as technology stocks, Jamie Douglas Coutts," a Bloomberg Intelligence analyst noted. During Friday's sell-off, Bitcoin fell to a low of $20,782, shedding more than 11% as a result of risk aversion in global markets brought on by concerns over the Federal Reserve's tightening monetary policy.Will the weakness in the Bitcoin price continue?
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