Analysis: US Dollar Index Approaches Upper Bound of Its Range, BTC Under Pressure and May Continue Negative Correlation with DXY
ChainCatcher news, according to a CoinDesk report, Bitcoin, seen as the "rival" to the US Dollar Index (DXY), is facing sustained pressure as the market watches the US Dollar Index approach a breakout above the upper boundary of its 13-month consolidation range. Data shows that Bitcoin has weakened for a third consecutive trading day, with its price hovering around $63,900. The overall crypto market is also generally under pressure.
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