Bitcoin risks new lows as $20K looms amid dollar euro parity
— Dollar, Index, Prepare, Price, Source, Bitcoin, Risks, Parity, Amid, Data — 1 min read
Bitcoin (BTC) headed for $20,000 after the July 11 Wall Street open amid fresh warnings to “prepare for new lows” The pair had locked in its best week’s gains since March. The level to watch was a trendline acting as support since June. The U.S. dollar index (DXY) continued its unrelenting surge higher on the day as the European gas crisis pressured the euro, hitting nearly 108.2 — a new twenty-year high. Arthur Hayes, former CEO of derivatives trading platform BitMEX, sees start of fiat "doom loop" to oblivion thanks to hitting parity thanks to parity. He warned central banks would have no option but to adopt yield curve control (YCC) Source