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Dollar's sharp recovery puts Bitcoin's $25K breakout prospects at risk
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Bitcoin (BTC) investors reeling from the shock of recent cryptocurrency company failures and banking issues may face another potential problem: a recovering U.S.
dollar.Notably, the U.S. dollar index (DXY), which tracks the greenback's performance against a basket of top foreign currencies, has risen 4% from its Feb.
3 low of 100.82, amid anticipations that the Federal Reserve will continue raising benchmark rates to cool inflation.An air of caution remains as fresh U.S.
data shows a recession is not yet imminent. That includes the latest jobless claims, which fell 2,000 to a seasonally adjusted 190,000 in the week ending Feb.
Read more on cointelegraph.comAbout this in other media
Dogecoin hits 4-month lows vs. Bitcoin — 50% DOGE price rebound now in play cointelegraph.com /2 months ago
Bitcoin price falls to a multi-month low, but data points to a possible short-term bounce cointelegraph.com /2 months ago
Bitcoin bulls’ desire for a trend reversal could be obliterated by this week’s $565M options expiry cointelegraph.com /2 months ago
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