7/11 Price Analysis: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, AVAX
Bitcoin and some altcoins are discounted and trading near critical support levels, but will buyers step in?
Price analysis
The US Dollar Index (DXY) resumed its strong upward trend on July 11, indicating that investors are bracing for the July 13 CPI report to be hotter than expected. A survey of economists by Bloomberg estimates that consumer prices jumped 8.8% in June, a four-decade high.
Arthur Hayes, the former CEO of derivatives trading platform BitMEX, believes the US dollar and euro are approaching parity. If this happens, central banks will have to adopt yield curve control, which could lead to currency disintegration and ultimately benefit Bitcoin (BTC).
Daily performance of the cryptocurrency market. Source: Coin360Glassnode analyst James Check said in a
Bitcoin and some altcoins are discounted and trading near critical support levels, but will buyers step in?
Price analysis
The US Dollar Index (DXY) resumed its strong upward trend on July 11, indicating that investors are bracing for the July 13 CPI report to be hotter than expected. A survey of economists by Bloomberg estimates that consumer prices jumped 8.8% in June, a four-decade high.
Arthur Hayes, the former CEO of derivatives trading platform BitMEX, believes the US dollar and euro are approaching parity. If this happens, central banks will have to adopt yield curve control, which could lead to currency disintegration and ultimately benefit Bitcoin (BTC).
Daily performance of the cryptocurrency market. Source: Coin360Glassnode analyst James Check said in a
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