Knowing how DXY and Bitcoin/Crypto have an inverse correlation. Also knowing that arguably the narrative around the USD/petrol dollar is weakening, especially after the Russia sanctions. And this as we approach a multi-decade resistance level for DXY.
The last two taps on this level triggered a steep correction and two bull markets for crypto. And since the rumor is that the whales who set the floor in the lower $30s 1.5 months ago are the same ones still accumulating in this range- what if they are positioning for the possibility of another bull run?
Of course I still have major reservations about any sort of investment in light of the macroeconomic climate, but crypto is still a new asset class so its hard to say definitively what will happen and it isn't unreasonable to say the DXY pattern and whale activity is correlated.
I suspect this will be an interesting year for crypto.
The last two taps on this level triggered a steep correction and two bull markets for crypto. And since the rumor is that the whales who set the floor in the lower $30s 1.5 months ago are the same ones still accumulating in this range- what if they are positioning for the possibility of another bull run?
Of course I still have major reservations about any sort of investment in light of the macroeconomic climate, but crypto is still a new asset class so its hard to say definitively what will happen and it isn't unreasonable to say the DXY pattern and whale activity is correlated.
I suspect this will be an interesting year for crypto.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.