Christopher Waller Market Analysis markets Federal Reserve inflation interest rate Bitcoin Bitcoin Price Dollar Christopher Waller Market Analysis

Dollar's sharp recovery puts Bitcoin's $25K breakout prospects at risk

Reading now: 683

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.

The website is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News