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CATEGORY: dollar


Price analysis 9/9: SPX, DXY, BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA

Author: Cointelegraph by Rakesh Upadhyay
United States
Sep 10, 2024 12:00

Price analysis 9/9: SPX, DXY, BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA

Bitcoin bulls are trying to push the price back inside the range, indicating that the markets have rejected the breakdown.

Sep 07, 2024 01:25

Bitcoin's Potential Rally Amid U.S. Dollar Weakness

Analyzing the recent drop in the Dollar Strength Index and its implications for Bitcoin.

Price analysis 9/30: SPX, DXY, BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA

Author: Cointelegraph by Rakesh Upadhyay
United States
Oct 01, 2024 12:00

Price analysis 9/30: SPX, DXY, BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA

Bitcoin and altcoins are witnessing end-of-month volatility, but traders remain upbeat about October due to the crypto market's history of strong performance in Q4.

Hong Kongs e-HKD project expands into tokenization, programmability

Author: Cointelegraph by Derek Andersen
United States
Sep 24, 2024 12:00

Hong Kongs e-HKD project expands into tokenization, programmability

The Hong Kong Monetary Authority is looking at a potential CBDC from a wide perspective.

Price analysis 9/23: SPX, DXY, BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA

Author: Cointelegraph by Rakesh Upadhyay
United States
Sep 24, 2024 12:00

Price analysis 9/23: SPX, DXY, BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA

Bitcoin bears are defending the $65,000 resistance, but if it gives way, BTC and altcoins are likely to chase new all-time highs.

Bitcoins new price targets of over $80K may not actually be the all-time high

Author: Cointelegraph by Biraajmaan Tamuly
United States
Sep 24, 2024 12:00

Bitcoins new price targets of over $80K may not actually be the all-time high

Bitcoin reached a new all-time high of $73,880 earlier in 2024, but toppling it by 2025 does not take it above 2021s inflation-adjusted value.

Price analysis 9/2: SPX, DXY, BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA

Author: Cointelegraph by Rakesh Upadhyay
United States
Sep 03, 2024 12:00

Price analysis 9/2: SPX, DXY, BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA

Bitcoin is attempting a slight recovery, but closing above the $60,000 market will be the first step to achieve before BTC and altcoins can bounce from their recent lows.

Price analysis 9/16: SPX, DXY, BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA

Author: Cointelegraph by Rakesh Upadhyay
United States
Sep 17, 2024 12:00

Price analysis 9/16: SPX, DXY, BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA

Bitcoins failure to hold $60,000 shows hesitation to buy at higher levels before the FOMC decision on Sept. 18.

Turkeys $200 limit on cash payments: What does it mean for crypto?

Author: Cointelegraph by Helen Partz
United States
Sep 13, 2024 12:00

Turkeys $200 limit on cash payments: What does it mean for crypto?

Should the Turkish government pass new amendments, all cash payments above $205 would be subject to fines of 10%.

Sep 02, 2024 05:50

Bitcoin In Neutral Zone: What This Means, According To Analyst

Bitcoin, the crypto market leader and largest digital asset, currently trades at $58,877 following a rather negligent price movement in the last day. According to data from CoinMarketCap, the premier cryptocurrency saw more lows than highs in August, resulting in an 8.46% decline over the month. As September begins, a CryptoQuant analyst with the username [...]

The post Bitcoin In Neutral Zone: What This Means, According To Analyst appeared first on Crypto Breaking News.

Aug 08, 2024 12:05

Arthur Hayes Reveals How To Trade Crypto Amid The Dollar-Yen Death March

In his latest essay “Spirited Away,” Arthur Hayes, the former CEO of BitMEX, dives into the complexities of the global financial markets, with a focus on the impending unwinding of the dollar-yen carry trade and its impact on the crypto market. Hayes begins by discussing the potential actions of the US Vice President Kamala Harris in response to an impending financial crisis, influenced by her need to secure electoral victory. He predicts, “Harris will instruct Yellen to use the monetary tools available to her to avert a financial crisis,” suggesting an immediate response to stabilize the markets expected “no later than the opening of Asian trading next Monday, August 12th.” Related Reading: Bitwise CIO Believes The Crypto Crash Sets The Stage For Bitcoin To Thrive Key Reasons Why The analysis revolves around the ‘yen carry trade,’ where Japan Inc. borrows yen at low rates to invest in higher-yielding foreign assets. This trade has been massively profitable due to the Bank of Japan’s (BOJ) policies that keep yen liabilities low and asset returns high, facilitated by a weak yen. However, Hayes points out the vulnerabilities of this strategy: “If the BOJ ceases its bond purchases, the unwinding could lead to significant yen appreciation and a corresponding decline in global equity markets.” Hayes outlines the potential dire consequences of a sudden strengthening of the yen, predicting drastic impacts on global stock markets. He quantifies these impacts, stating, “If the dollar-yen reached 100, a 38% move, the Nasdaq would drop to ~12,600 and the Nikkei to ~25,365,” indicating severe repercussions for global financial stability. According to the former BitMEX CEO, the full unwind of the dollar-yen carry trade is a question of when, not if. The question is when the Fed and Treasury will print money to blunt its effects on Pax Americana, he adds and describes a scenario where the US equity markets could crash into this upcoming Friday. Then some sort of action over the weekend is probable, according to Hayes. He further theorizes on a more long-term scenario: If the yen starts to weaken again, the crisis is over in the immediate term. The unwind will continue, albeit at a slower pace. I believe the markets will throw another tantrum between September and November as the dollar-yen pair resumes its death march toward 100. There will definitely be a response this time around, as the US presidential election will be weeks or days away. How To Trade Crypto In This Environment Hayes describes the situation as complex due to two conflicting liquidity forces. Trading this in a crypto fashion is difficult. Two opposing forces influence my crypto positioning, he states. First, there is the Liquidity Positive Force. This force emerges from the US Treasury’s potential actions, which could inject significant dollar liquidity into the market. Hayes notes, “After a quarter of net restrictive policy, the US Treasury will net inject dollar liquidity because it will issue Treasury bills and possibly deplete the Treasury General Account.” This influx of liquidity could buoy markets, including cryptocurrencies, by providing more capital for investment. Related Reading: Why The 4-Year Crypto Cycle Is A Thing Of The Past: Top-Analyst Conversely, the strengthening of the yen (Liquidity Negative Force), driven by the unwinding of the carry trade, would necessitate a global sell-off of financial assets as higher yen costs make debt servicing more expensive. This force could lead to a withdrawal of liquidity from markets, exerting downward pressure on asset prices, including cryptocurrencies. Hayes proposes that the interplay of these forces will dictate the behavior of Bitcoin and other cryptocurrencies. He categorizes potential outcomes into two scenarios: Convex-Bitcoin Scenario: In this scenario, Bitcoin could rise in value regardless of whether the dollar-yen pair strengthens or weakens, indicating that the market expects a bailout if the yen strengthens and that the liquidity provided by the US Treasury is sufficient to counteract the negative impacts. Correlated-Bitcoin Scenario: Here, Bitcoin’s price movements would align closely with traditional financial markets. A strengthening yen would lead to a fall in Bitcoin prices, and a weakening yen would result in a rise, mirroring the liquidity shifts in traditional finance. If the setup is convex-Bitcoin, I will aggressively add positions as we have reached the local bottom. If the setup is correlated-Bitcoin, then I will sit on the sidelines and wait for the eventual market capitulation. The mega assumption is that the BOJ will not reverse course, cut deposit rates back to 0%, and resume unlimited JGB purchases. If the BOJ sticks by the plan it laid out at its last meeting, the carry trade unwind will continue, Hayes concludes. At press time, BTC traded at $57,200. Featured image from YouTube, chart from TradingView.com

Price analysis 8/5: SPX, DXY, BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA

Author: Cointelegraph by Rakesh Upadhyay
United States
Aug 06, 2024 12:00

Price analysis 8/5: SPX, DXY, BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA

Global equity markets witnessed a massive sell-off, pulling Bitcoin and several major cryptocurrencies to unexpected lows.

Bitcoin price keeps falling under $60K  Here is why

Author: Cointelegraph by Marcel Pechman
United States
Aug 31, 2024 12:00

Bitcoin price keeps falling under $60K Here is why

Many analysts say a drop in spot Bitcoin ETF demand is the primary reason for BTCs price weakness, but theres more to it than that. 

Price analysis 8/26: SPX, DXY, BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA

Author: Cointelegraph by Rakesh Upadhyay
United States
Aug 27, 2024 12:00

Price analysis 8/26: SPX, DXY, BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA

Bitcoin and altcoins are witnessing some profit taking today,  but the overall uptrend remains intact.

Ethereum's 40-month slump vs. Bitcoin won't end in a dollar 'freefall' scenario

Author: Cointelegraph by Yashu Gola
United States
Aug 27, 2024 12:00

Ethereum's 40-month slump vs. Bitcoin won't end in a dollar 'freefall' scenario

The positive correlation between the ETH/BTC pair and the US Dollar Index has strengthened ahead of the Federal Reserves September rate decision.

Mercado Libre launches USD-pegged Meli Dollar stablecoin in Brazil

Author: Cointelegraph by Derek Andersen
United States
Aug 23, 2024 12:00

Mercado Libre launches USD-pegged Meli Dollar stablecoin in Brazil

The new stablecoin will provide Mercado Libre customers a new option for managing their finances in Brazils volatile economy.

Good news means bad news? Bitcoin shrugs off weakest US dollar of 2024

Author: Cointelegraph by William Suberg
United States
Aug 22, 2024 12:00

Good news means bad news? Bitcoin shrugs off weakest US dollar of 2024

Bitcoin price action seems uninterested in rapidly declining US dollar strength, as a shock payroll revision adds to DXY pressures.

Ethena Labs USDe launches as margin collateral on Bybit with 20% APR

Author: Cointelegraph by Zoltan Vardai
United States
Aug 03, 2024 12:00

Ethena Labs USDe launches as margin collateral on Bybit with 20% APR

The integration will also offer Bybit users daily airdrop rewards for holding Ethena's USDe.

Price analysis 8/19: SPX, DXY, BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA

Author: Cointelegraph by Rakesh Upadhyay
United States
Aug 20, 2024 12:00

Price analysis 8/19: SPX, DXY, BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA

The S&P 500 Index is nearing its all-time high, but Bitcoin is struggling to rise above $60,000, pointing to further underperformance in the near term.

Does Hong Kong have issues with USDT and USDC?  Exec weighs in

Author: Cointelegraph by Helen Partz
United States
Aug 17, 2024 12:00

Does Hong Kong have issues with USDT and USDC? Exec weighs in

As Hong Kong looks into creating Hong Kong dollar and US dollar stablecoins, a local industry executive addresses possible implications for UDST and USDC.

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