‘Wild ride’ lower for BTC? 5 things to know in Bitcoin this week
— Meantime, Eth )/ usd, Views, Usd, United states financial markets, Federal reserve raise key rates, Breaks, Painfully high, Analyst singles, Gold versus — 1 min read
Bitcoin (BTC) starts a new week still in holiday mode with United States financial markets off for Independence Day. The largest cryptocurrency, stuck below the increasingly daunting $20,000 mark, continues to feel the pressure from the macro environment. The U.S. dollar index (DXY) continued to hold near twenty-year highs after returning from its latest retracement defiant. With no meaningful Bitcoin futures gap and flat performance on Asian markets, meanwhile, there was little to be had in terms of short-term price goals for short-timeframe traders. Gold is about to hit a historical “blast off” zone against the S&P 500 (SPX) after bottoming out at the end of 2021, which has historically led to significant upside afterward. Source