Bitcoin Hits Two-Month Low Amid Dollar Strength, Cooling Ordinals Activity

dropped to a two-month low of $26,188 early this morning amid rising dollar strength and a cooldown in the Ordinals hype. The dollar index (DXY), which values the dollar against other global reserve currencies, recorded a strong uptick on Thursday, inching toward monthly highs. Bitcoin, which usually has an inverse relationship with the dollar, started […]

• 2023-05-12
• Bitcoin dollar index Ordinals debt ceiling

Bitcoin, Ether Could Face Risks From Potential Short Squeeze in Dollar Index, QCP Capital Says

The U.S. dollar has been heavily shorted since early October in hopes for a so-called dovish Fed pivot and looks ripe for a short squeeze, a move higher driven by unwinding of bearish positions. Bitcoin tends to move in the opposite direction of the dollar.

• 2023-05-03
• double bottom QCP dollar index short squeeze