Jamie Coutts, a Real Vision analyst, highlighted the strong correlation between the US dollar's movement and Bitcoin's value, noting that a minor US Dollar Index shift could greatly impact Bitcoin's price.
The Federal Reserve's policy damper on inflation, which involves interest rate adjustments, deeply impacts the USD value, affecting Forex and crypto markets.
Real Vision analyst Jamie Coutts has highlighted a significant correlation between Bitcoin price movements and the US Dollar Index (DXY), with implications on Bitcoin's market performance.
Jamie Coutts discusses the inverse correlation between the US dollar performance and Bitcoin price, suggesting a 3% fall in DXY could spark a Bitcoin rally.
Paul Ryan believes regulated stablecoins could potentially lead to increased demand for dollars and U.S. debt, valuing them in the trillions.
Bitcoin's price crossed the $65,000 mark as April's inflation rate increased by 3.4%, which was lower than the expected 3.5%.
BNB price struggles to regain momentum, trading below key resistance levels and the 100 SMA, with potential further declines if it doesn't overcome the $575-$585 resistance area. A break above could test $600, while failure may lead to a drop towards $500.
XRP struggles to overcome a key resistance level at $0.5120. If it fails to remain above $0.5060 and $0.5120, prices may drop further. Currently trading below $0.5050 and the 100-hourly SMA, XRP's next moves depend on whether it can close above the resistance.
Solana's SOL price has surged nearly 8%, overcoming the $142 resistance and aiming for the $150 mark. Maintaining momentum above $146 is crucial for further gains, potentially reaching $162 or even $175. Conversely, failing to breach $150 could lead to a retest of supports at $146, $142, and possibly $138.
Robert Kiyosaki, acclaimed author of 'Rich Dad Poor Dad,' endorses Bitcoin alongside gold and silver as protection against a looming USD collapse. He shows interest in South Africa due to BRICS' plans for a new currency.
Robert Kiyosaki continues to support Bitcoin, highlighting it with gold and silver as hedges against an impending USD crash. His focus also turns to BRICS' plans, including South Africa, to create a new currency.
Dogecoin (DOGE) faced a decline below the support level of $0.1420 against US Dollar and is struggling to recover. Encountering resistance near $0.1430 and $0.1450, DOGE requires a close above $0.1450 for a potential upturn. The MACD indicates waning bearish momentum, while RSI suggests some buying interest above the 50 level.
Bitcoin reached $60,000 but experienced a slight drop due to the Federal Reserve's position, maintaining a bearish outlook for BTC's future.
Traders Union offers indicator-based XRP/USD analysis with weekly and monthly forecasts, noting a recent surge in XRP, breaking resistance levels and reaching $0.6692.
Financial guru Robert Kiyosaki, in his podcast, endorsed Ethereum and Bitcoin as investment options to counteract the falling US Dollar value.
Robert Kiyosaki, author of 'Rich Dad Poor Dad,' recommended investing in Ethereum and Bitcoin on 'The Rich Dad Channel', citing concerns over the USD's value.
Bitcoin's price has risen as the U.S. dollar weakened following an increase in U.S. jobless claims, correlating positively with equity markets, according to an analyst.
FTX creditor representative Sunil Kavuri is contesting the exchange's plan to repay debts in USD rather than cryptocurrency, signaling a potential new trend in crypto bankruptcy proceedings.
Investor Robert Kiyosaki, known for “Rich Dad Poor Dad”, purchased Ethereum amidst concerns of USD devaluation, indicating his belief in cryptocurrency's potential.
Litecoin's price is showing recovery signs, attempting to break the $83-$84 resistance zone. Positive movement is detected, with support found at $75. Upside progress could lead towards $88.50 and $90, but failure to surpass $84 might trigger a correction with support at $80 and $77.80.
Tron (TRX) is seeing a bullish trend against the US Dollar, breaking through the $0.1220 barrier and outperforming Bitcoin, with potential to reach $0.132. After surpassing the resistance at $0.120 on the 4-hour chart, TRX is trading above the $0.1220 and the 100 SMA, indicating strength and may head towards higher resistance levels if it maintains the current momentum.
Ripple projects the stablecoin market to reach $3 trillion by 2028, and plans to release a USD-backed stablecoin this June. The launch is planned despite SEC scrutiny, and the stablecoin promises to maintain a 1:1 peg to the USD, according to Ripple's CTO David Schwartz.
On May 8, 2024, Bitcoin (BTC) and Ethereum (ETH) showed reactions to the Federal Reserve (Fed) and Bank of England (BoE) monetary decisions, with significant implications due to the strengthening USD.
USD is growing stronger in the crypto market due to Federal Reserve measures and weaker US survey data, contrasting with bearish trends for the EURUSD coin.
Polkadot (DOT) sees a potential turning point as it tests key support at $6.75 after failing to overcome resistance at $7.5. Staying above support may lead to a rally, while breaking below could signal further declines.
Ethereum's price struggled to break the $3,220 resistance, leading to a drop below the $3,120 support and the 100-hourly SMA. Technical indicators suggest waning bullish momentum, as ETH faces major hurdles for a recovery above $3,120. It must hold above $3,020 to prevent further losses, with key supports at $3,000 and $2,950.
Henrik Zeberg, a macro economist, predicts a specific altcoin could grow 15x, citing a weakening dollar as a key catalyst while emphasizing risk management in trading decisions.
Ripple plans to launch a stablecoin backed by US Dollar deposits, government bonds, and low-risk investments.
Bitcoin's price stabilizes at $63,107 after a volatile week, recovering post the U.S. Nonfarm Payrolls report, amidst a continuing meme coin frenzy.
Bitcoin's price rallied past $60,000 after the US labor market report indicated potential interest rate cuts by the Federal Reserve, igniting optimism in BTC's future value.
This article discusses whether the U.S. should maintain the dollar's status as the dominant world currency amidst global financial shifts.
David Marcus, CEO of Lightspark and former president of Paypal, predicts bitcoin will become the leading currency for AI transactions, due to its neutrality compared to fiat currencies like the euro or USD.
Bitcoin fell below the $60,000 price point, altering the financial projections for May.
Polkadot (DOT) price is struggling under $8 and may decline further if it breaks below $6. Technical indicators like MACD and RSI suggest bearish momentum, with potential support around $5. If it cannot surpass the $7 resistance, there's a risk of falling to the $4.20 zone.
Bitcoin price faces pressure, unable to break above $65,000, with the risk of dropping below $62,000. The BTC/USD pair shows bearish signs on hourly charts, trading under the 100-hr SMA. A daily close under $62,400 could accelerate losses, but overcoming resistance at $65,000 may trigger a rally.
Bitcoin's price fluctuated around $64,000 after the US Core PCE index showed a 0.3% rise in March, aligning with market forecasts.
Dogecoin is facing difficulties breaking past the $0.1650 resistance and could drop substantially if it falls below the $0.140 support. Despite a minor recovery, bearish signs and a breakdown below key support levels may lead to a decline towards the $0.120 area.
Bitcoin's price is hovering on the weaker side of a bullish flag, experiencing resistance at $67,200. The market is calm, but a breakout could see it soar to $86,000.
Bitcoin's price struggles to rise above $65,500 and is at risk of further decline if it breaks below the $63,000 support. The BTC/USD pair shows bearish trends, trading below the 100 hourly SMA and facing resistance along a trend line. Technical indicators suggest increased bearish momentum.
Dogecoin is attempting a recovery but faces resistance at $0.170 after rising from the $0.1280 support. A break above this level could lead to more gains, whereas failure may result in another decline.
Billionaire Tim Draper predicts Bitcoin's price could reach $10 million, citing increased adoption and a weakening US dollar.
Christopher Inks identified a bullish Adam and Eve double bottom pattern in the Bitcoin price chart, suggesting that if BTC breaks above and holds at the $67,000 level, it could target the all-time high near $73,000. Technical indicators present mixed signals with strong upward momentum and potential overbought conditions.
The article discusses Bitcoin Halving, an event historically associated with bullish trends. Despite past success pushing BTC to $73,000, the recent Halving introduces new uncertainties.
Dogecoin (DOGE) is experiencing resistance below $0.180 and could face a decline if it does not maintain support above $0.1450. Technical indicators suggest bearish momentum, with key levels to watch including support at $0.1520 and $0.1450, and resistances at $0.1600, $0.1780, and $0.200.
Ethereum faces trouble in its recovery as it struggles below key resistance levels at $3,200 and $3,280, trading under the 100-hourly SMA. A bearish momentum threatens if it breaks below $3,000, with further supports at $2,900 and $2,820 potentially in play.
Bitcoin is poised for a potential increase, with support at $67,500 and trading over $70,000. A clear move above the $72,800 resistance could steer the price towards $75,000. However, failing to overcome $71,400 might lead to a decline with key support at $69,200.
Ripple is set to launch a USD-backed stablecoin, aiming to challenge Tether's dominance in the stablecoin market. This development raises questions about Ripple's strategy and the implications for the crypto industry.
MATIC price is showing a bullish trend with over 5% gain, breaking the $0.950 resistance. If it surpasses $0.9720, it could target $1.00, possibly $1.15. However, failing to breach $0.9720 may lead to a correction, with crucial supports at $0.915 and $0.880.
Bitcoin is showing positive signs, maintaining levels above the $68,500 resistance, with potential to rise above $70,000. Key support is at $68,800, while dips below $66,500 could lead to further losses. Technical indicators suggest a possible slowing of momentum.
PayPal has launched a feature that allows users to convert PYUSD stablecoin to USD for fee-free transfers to 160 countries.
Cryptocurrency market sees a 2.13% increase, reaching a $2.55 trillion valuation despite lower trading volumes. Bitcoin surpasses $68,000 with a 2.3% rise, while Ether experiences a modest 0.9% gain.
Ripple has announced plans to introduce a USD-pegged stablecoin to enhance liquidity on the XRP Ledger, suggesting a push for broader cryptocurrency adoption.