Yesterday, we stated that the indicators in DXY are in the overbought zone and if there is some pullback in the short term, we may see an upward move in cryptocurrencies. With the relief in DXY shortly before the markets opened in the USA, we saw Bitcoin rise as high as $43800. Along with Bitcoin, altcoins have also turned green.
As you know, the US government expresses that they are stuck on debt limits and wants the congress to approve the law change regarding this issue. US Treasury Secretary Janet Yellen and Powell recently spoke to Congress about their proposal and expressed some concerns about the future of the US economy. The statements of Powell and Yellen caused us to see a sharp upward movement in the US 10-years and DXY.
Janet Yellen and Powell are expected to speak at the Parliamentary Financial Services Committee today at 17.00 Turkish time. Experts warn that there may be fluctuations in the markets depending on the tone of the messages to be given here.
It is considered that Bitcoin and altcoins, which have recently been affected by sales in the US markets, may also be affected by this fluctuation.
*Not Investment Advice.