Bitcdays analyst explained what role the DXY dollar index plays in the digital asset market
An increase in the bitcoin exchange rate from $ 35-36 thousand is more likely than a decrease to $ 30 thousand, says Bitcdays cryptanalyst. He added that the DXY dollar index plays an important role in the crypto market. A decrease in the indicator may indicate an increase in risky assets, including digital ones.
95.5 is probably the next target for DXY. A close below 94.6 is necessary for a trend reversal, expert wrote.
Earlier, analyst Benjamin Cowan predicted that bitcoin would return to growth in three weeks. Cowan made this conclusion based on historical data. The analyst recalled that after the fall of the cryptocurrency exchange rate below the support level of the bull market, an average of three to six months pass. After that, the asset usually returned to growth.