Bitcoin price fights for $26K as US dollar strength hits 10-month high
“DXY rocketing greater – to the hinderance of BTC Crypto and other danger possessions,” Matthew Dixon, CEO of crypto rating platform Evai, wrote in part of a reaction.Dixon had previously considered a potential cooling off in DXY strength, providing Bitcoin and altcoins room for a relief bounce.This post does not contain financial investment suggestions or suggestions. Every financial investment and trading relocation includes risk, and readers should perform their own research study when making a choice.
” If true, BTC risks falling into the $22,000-$ 20,000 range,” it added.BTC/ USD annotated chart.” Bitcoin might drawback wick into the ~$ 25000-$ 26000 area on this present relocation down,” he wrote in part of fresh X analysis on the day. Source: TradingViewSince striking 15-month lows in July, DXY has actually climbed 6.5%, displaying strength which traditionally has obstructed threat asset and crypto market performance.Painful grind lower on threat properties as yields and DXY grind greater Going to let this trading session establish more https://t.co/C67I5tJHRH— Skew Δ (@ 52kskew) September 25, 2023
Bitcoin (BTC) hugged $26,000 at the Sep. 24 Wall Street open as a weekly close “nosedive” brought lasting consequences.BTC/ USD 1-hour chart. Source: TradingViewBitcoin needs to preserve support now, analysis saysData from Cointelegraph Markets Pro and TradingView showed BTC price trajectory uncertain after briefly piercing $26,000 support.Sideways weekend trading soon turned sour into the new week, and upset overnight implied that bulls were not able to recoup lost ground. #Bitcoin Weekend rate action wasnt amazing till the later hours on Sunday as expected.Price held around the CME Close cost until futures opened and after that took a nose dive. https://t.co/HgmYShdrjA pic.twitter.com/VAzov8haCJ— Daan Crypto Trades (@DaanCrypto) September 25, 2023