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Stronger dollar prospects risk pushing down Bitcoin price to $32K -Breaking

by Mike Robinson

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Bitcoin could be priced at $32K due to stronger dollar prospects

It could be fatal that the U.S. Dollar’s rally in Q2 continues to be a success.BTCSince January 2022, a negative correlation has been observed with the dollar.

Correlation with DXY in daily price charts TradingView

It (DXY) measures the strength of the greenback in relation to a basket currency. It reached its 21-month peak of 99.82 on April 7th, the highest since May 2020.

DXY daily chart with “bull flag” setup. TradingView

The weekly chart features a golden cross

DXY Weekly Price Chart with a Golden Cross TradingView
BTC/USD Daily Price Chart with ‘Bear Flag’ TradingView