Bitwise analyst: A stronger dollar may prevent Bitcoin from breaking through $100,000
the price of Bitcoin is approaching $100,000, but Bitwise's European research director, André Dragosch, warns that the strengthening of the US dollar may pose a resistance to further Bitcoin price increases. He pointed out that historical data shows that Bitcoin usually performs weaker during periods when the US dollar appreciates, and a stronger US dollar often means a tightening of global liquidity, which may have a negative impact on the short-term trend of Bitcoin.
In addition, the expectation that the Bank of Japan (BoJ) may raise interest rates in December has also raised concerns in the market. Analysts believe that the expectation of a yen interest rate hike may lead to pressure to close "yen carry trades," which could cause volatility in risk assets, including Bitcoin. The recent rise in the Tokyo Consumer Price Index further supports this view, and Bank of Japan Governor Haruhiko Kuroda said that the Japanese economy is moving towards sustained inflation driven by wage increases.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
“Hyperliquid 50x Whale” opens 40x BTC short position, with a position value of $160 million
Code of Joker game will reappear on smartphones in a new version via Sui blockchain
Share link:In this post: The arcade Code of Joker existed from 2013 to 2019 The game will run on a platform Mysten acquired just days ago. Sui partnered with Jokers, Inc., which is obtaining more games to revive in Web3
RLUSD Can Be Frozen for Compliance, Ripple CTO Admits

BlackRock to File XRP ETF Only After SEC Lawsuit Resolution, Expert Says

Trending news
MoreCrypto prices
More








