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.