ApeWatcher News
  • Home
  • Advertise
  • Headlines
  • Crypto
    • News
    • Bitcoin
    • Ethereum
    • Altcoin
    • View All
  • DeFi
  • NFT
  • Metaverse
  • Guides
  • Rates
  • Videos
  • Listing Platform
  • BSC
  • CRO
  • ETH
  • BRC
  • Listing Platform
  • BSC
  • CRO
  • ETH
  • BRC
What's Hot

Web3 Community Management Platform TYB Joins Shopify App Store

March 22, 2023

Vladimir Putin Says Russia Wrote Off African Countries’ Debts Totaling Over $20 Billion in 2022

March 22, 2023

PlayMining offers companies new advertising initiative via in-game NFTs!

March 22, 2023
Twitter Telegram
  • Listing Platform
  • Home
  • BSC
  • CRO
  • ETH
  • BRC
Advertise
Twitter Telegram
ApeWatcher News
  • Headlines
  • Crypto
    1. News
    2. Bitcoin
    3. Ethereum
    4. Altcoin
    5. View All

    Web3 Community Management Platform TYB Joins Shopify App Store

    March 22, 2023

    Vladimir Putin Says Russia Wrote Off African Countries’ Debts Totaling Over $20 Billion in 2022

    March 22, 2023

    Traditional banks rely on ‘tiny buffer’: Paris Blockchain Week 2023

    March 22, 2023

    $3.8 Billion in Cryptocurrency Lost to Hacks Last Year – How to Avoid Them in 2023

    March 22, 2023

    Traditional banks rely on ‘tiny buffer’: Paris Blockchain Week 2023

    March 22, 2023

    Tim Draper sings a Bitcoin song dedicated to SVB and world governments: PBW 2023

    March 22, 2023

    Cathie Wood’s ARK sells Coinbase stock for the first time in 2023

    March 22, 2023

    The impact of the Credit Suisse bank crisis on the crypto market

    March 22, 2023

    BitMEX Outlines Three Scenarios for Crypto This Year, Says Market Recovery a Likely Outcome

    March 22, 2023

    Arbitrum airdrop hype helps zkSync addresses jump over 5X in a week

    March 20, 2023

    Synthetix nets $20M from Web3 quant trading firm

    March 20, 2023

    These 5 cryptocurrencies may continue to surprise to the upside

    March 19, 2023

    Why is Cardano price up today?

    March 22, 2023

    Coinbase Adds Highly Anticipated Ethereum (ETH) Scaling Solution Token to Listing Roadmap

    March 22, 2023

    ‘Crypto FUD’ — Industry outraged as White House report slams crypto

    March 22, 2023

    Speculators flock to Arbitrum IOU tokens ahead of this week’s ARB airdrop

    March 21, 2023

    Web3 Community Management Platform TYB Joins Shopify App Store

    March 22, 2023

    Vladimir Putin Says Russia Wrote Off African Countries’ Debts Totaling Over $20 Billion in 2022

    March 22, 2023

    PlayMining offers companies new advertising initiative via in-game NFTs!

    March 22, 2023

    Traditional banks rely on ‘tiny buffer’: Paris Blockchain Week 2023

    March 22, 2023
  • DeFi
  • NFT
  • Metaverse
  • Guides
  • Rates
  • Videos

    Hottest ZK Crypto Altcoins (What Whales are Buying for Bull Run Gains)

    March 21, 2023

    Surprise XRP PUMP! (CBDCs BANNED Forever)

    March 21, 2023

    Coinbase 🤝 SBF?! #crypto #shiba #shorts #youtubeshorts

    March 21, 2023

    The Next 50x Altcoin – Ethereum’s SECRET Weapon!

    March 21, 2023

    Bitcoin price is going to $1,000,000! ⚡ Jack Mallers explains why

    March 20, 2023
  • jeet-detector-botJDB(JDB)
    $0.00-0.61% 24H
    JDB
    24H : -0.61%
    Volume : $0.00
    Marketcap : $0.00
  • bitcoinBitcoin(BTC)
    $0.002.29% 24H
    BITCOIN
    24H : 2.29%
    Volume : $0.00
    Marketcap : $0.00
  • ethereumEthereum(ETH)
    $0.000.290% 24H
    ETHEREUM
    24H : 0.290%
    Volume : $0.00
    Marketcap : $0.00
  • usdex-stablecoinUSDEX(USDEX)
    $0.00-0.47% 24H
    USDEX
    24H : -0.47%
    Volume : $0.00
    Marketcap : $0.00
  • tetherTether(USDT)
    $0.00-0.49% 24H
    TETHER
    24H : -0.49%
    Volume : $0.00
    Marketcap : $0.00
  • binancecoinBNB(BNB)
    $0.00-2.06% 24H
    BNB
    24H : -2.06%
    Volume : $0.00
    Marketcap : $0.00
  • usd-coinUSD Coin(USDC)
    $0.000.180% 24H
    USD COIN
    24H : 0.180%
    Volume : $0.00
    Marketcap : $0.00
  • rippleXRP(XRP)
    $0.004.86% 24H
    XRP
    24H : 4.86%
    Volume : $0.00
    Marketcap : $0.00
  • cardanoCardano(ADA)
    $0.008.58% 24H
    CARDANO
    24H : 8.58%
    Volume : $0.00
    Marketcap : $0.00
  • staked-etherLido Staked Ether(STETH)
    $0.00-0.11% 24H
    LIDO STAKED ETHER
    24H : -0.11%
    Volume : $0.00
    Marketcap : $0.00
  • jeet-detector-botJDB(JDB)
    $0.00-0.61% 24H
    JDB
    24H : -0.61%
    Volume : $0.00
    Marketcap : $0.00
  • bitcoinBitcoin(BTC)
    $0.002.29% 24H
    BITCOIN
    24H : 2.29%
    Volume : $0.00
    Marketcap : $0.00
  • ethereumEthereum(ETH)
    $0.000.290% 24H
    ETHEREUM
    24H : 0.290%
    Volume : $0.00
    Marketcap : $0.00
  • usdex-stablecoinUSDEX(USDEX)
    $0.00-0.47% 24H
    USDEX
    24H : -0.47%
    Volume : $0.00
    Marketcap : $0.00
  • tetherTether(USDT)
    $0.00-0.49% 24H
    TETHER
    24H : -0.49%
    Volume : $0.00
    Marketcap : $0.00
  • binancecoinBNB(BNB)
    $0.00-2.06% 24H
    BNB
    24H : -2.06%
    Volume : $0.00
    Marketcap : $0.00
  • usd-coinUSD Coin(USDC)
    $0.000.180% 24H
    USD COIN
    24H : 0.180%
    Volume : $0.00
    Marketcap : $0.00
  • rippleXRP(XRP)
    $0.004.86% 24H
    XRP
    24H : 4.86%
    Volume : $0.00
    Marketcap : $0.00
  • cardanoCardano(ADA)
    $0.008.58% 24H
    CARDANO
    24H : 8.58%
    Volume : $0.00
    Marketcap : $0.00
  • staked-etherLido Staked Ether(STETH)
    $0.00-0.11% 24H
    LIDO STAKED ETHER
    24H : -0.11%
    Volume : $0.00
    Marketcap : $0.00
ApeWatcher News
Home » Bitcoin fights key trendline near $20K as US dollar index hits new 20-year high
Altcoin

Bitcoin fights key trendline near $20K as US dollar index hits new 20-year high

Coin TelegraphBy Coin TelegraphJuly 14, 20220 ViewsNo Comments
Share
Facebook Twitter LinkedIn Pinterest Email

Bitcoin (BTC) found a new focus just under $20,000 on July 14 as U.S. dollar strength hammered out yet another two-decade high.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

DXY moves bring yen, euro into focus

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD rebounding from lows sparked by a fresh 40-year high for U.S. inflation as per the Consumer Price Index (CPI).

After briefly dipping under $19,000, the pair took a flight above $20,000 before consolidating immediately below that psychologically significant level.

For on-chain analytics resource Material Indicators, it was now “do or die” for BTC price action when it came to a key rising trendline in place since mid-June.

On the day, that trendline stood at around $19,600, with BTC/USD now preserving it as support.

Gut check time for #Bitcoin bulls fighting for the trend line. #FireCharts pic.twitter.com/AUJmKXClU9

— Material Indicators (@MI_Algos) July 13, 2022

Significant gains meanwhile looked less likely for crypto markets thanks to the day once more being ruled by the U.S. dollar. 

After tanking following the CPI print, the U.S. dollar index (DXY) returned with a vengeance to post its highest levels since 2002 — a phenomenon which had characterized much of the year.

The new peak measured 108.64, an increase of over 1% versus the 24-hour lows.

U.S. dollar Index (DXY) 1-hour candle chart. Source: TradingView

Beyond the short-term negative impact for Bitcoin and risk assets, USD strength was also bad news for other major world currencies, with the Japanese yen particularly in focus for BTC commentators

“Yen getting battered again today. Bank of Japan frozen in place, waiting for Fed reversal. Until then, they will continue to destroy their currency because they have no other option,” popular Twitter account Stack Hodler argued on the day.

“BoJ + Yen is a glimpse into the future for ECB + Euro. Are you seeing why Bitcoin matters yet?”

As Cointelegraph reported, some believe that the Fed will likewise have no choice but to halt inflation-busting interest rate hikes toward the end of 2022.

“In response to today’s CPI print which showed broad-based and accelerating inflation, short-term FF futures moved upward implying peak FF of 3.68% by 12/22 with the @federalreserve immediately thereafter cutting rates to reach 2.9% by 1/24,” investor and hedge fund manager Bill Ackman wrote in part of a Twitter thread in reaction to the CPI data.

“Implicitly the market expects a more aggressive Fed will push us into recession by year end and then cut rates in response.”

Little belief in an altcoin rebirth

Turning to altcoins, flat progress over the past 24 hours was no reason to assume prices could not drop more, one analyst warned.

Related: How Bitcoin’s strong correlation to stocks could trigger a drop to $8,000

In fresh updates on the day, Il Capo of Crypto predicted bearish moves for at least two tokens in the top ten cryptocurrencies by market cap.

Ether (ETH), for example, was threatening a return to a three-figure price tag.

$ETH

Testing previous ATH as resistance and forming a corrective move. Bearish.

Clean break below $1k = $600-700 pic.twitter.com/5qRscCVQ5G

— il Capo Of Crypto (@CryptoCapo_) July 14, 2022

Cardano (ADA) faced an even worse situation after fall through support, which had been tested six times in as many weeks.

“Support broken and now tested as resistance. Very bearish,” he commented.

Data from research firm Santiment nonetheless shed light on the potential for a possible rebound of an altcoin, which had “dropped harder than most” this year.

#Cardano‘s price is down 69% in 2022, and this has caused social sentiment toward the #8 market cap asset to drop harder than most. The last time the crowd was this negative in Jan, $ADA rebounded +24% in 5 days until sentiment turned positive again. https://t.co/4BLpLNDraG pic.twitter.com/mJgnhtpB1V

— Santiment (@santimentfeed) July 13, 2022

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.



Read the full article here

Follow us on Google News to get the latest Updates

 
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Why is Cardano price up today?

March 22, 2023

Coinbase Adds Highly Anticipated Ethereum (ETH) Scaling Solution Token to Listing Roadmap

March 22, 2023

‘Crypto FUD’ — Industry outraged as White House report slams crypto

March 22, 2023

Speculators flock to Arbitrum IOU tokens ahead of this week’s ARB airdrop

March 21, 2023

Euler Finance to enter talks with exploiter over the return of funds

March 21, 2023

24,940,023,596,035 Shiba Inu (SHIB) Worth Over $276,000,000 Transferred From Crypto Exchange to Self Custody: Santiment

March 21, 2023
Add A Comment

Leave A Reply Cancel Reply

Top Articles

Web3 Community Management Platform TYB Joins Shopify App Store

March 22, 2023

Vladimir Putin Says Russia Wrote Off African Countries’ Debts Totaling Over $20 Billion in 2022

March 22, 2023

PlayMining offers companies new advertising initiative via in-game NFTs!

March 22, 2023
ApeWatcher News
Twitter Telegram
  • Privacy Policy
  • Sources
  • Terms and Conditions
  • Contact
  • Advertise
© 2023 Ape Watcher News

Type above and press Enter to search. Press Esc to cancel.