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- Bitcoin is poised for activity as the U.S. Dollar Index begins a crucial week
- If the DXY has topped out, Bitcoin will enjoy a bounce
- Other factors suggest that the tedium is about to be ended – one way or another
Bitcoin and traditional stocks are waiting to see what the U.S. Dollar Index will do this week as the first signs of optimism so far this year start to spread through the space. Some are starting to believe that, with Bitcoin’s price compressed and the dollar index (DXY) heading towards a potential top, Bitcoin’s time could finally have come 11 months into the bear market.
Dollar Pullback or Just Another Upwards Step?
The DXY reached 114.8 last week, the highest value for more than 20 years, before pulling sharply back to 111.5::
What Bitcoin and traditional assets are waiting to find out is to see if the support at 111.5 represents a lower high
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