After the FED’s 75 basis point interest rate hike, statements from Powell increased the dollar index to 113.1, while Bitcoin had fallen to the $20,000 limit again.
Today, with the half-point pullback in the dollar index, we watched Bitcoin rise to the level of 20,700 again.
Bitcoin’s sideways movements above $20,000 encourage altcoins EthereumWe see that ‘ is appreciated by 3%.
When we look at the highlights of the altcoins in the last 24 hours, Okex coin OCD 24%, Phantom FTM 19%, MATIC stands out with an increase of 17%.
As can be seen, the cryptocurrency markets have been moving according to the DXY chart for a long time. We are trying to convey any developments that may cause a change in DXY.
While the reverse correlation between DXY and Bitcoin continues, an important data will be released in the USA today.
US agricultural employment data will be released at 15.30 CEST. Expectation (Investing) 200 thousand.
US Unemployment rates will be announced at 15.30 CEST. Expectation 3.6%
Non-farm employment The fact that the data is above the expectations is considered as a signal of the economic recovery in that country and has a positive effect on the currency.
If the data to be announced at 15.30 is over 200 thousand DXYWe can see that (dollar index) rises and Bitcoin pulls back a bit. If it comes below 200 thousand, it may cause the retracement in DXY to continue.