Oops! BTC rises despite inflation signals sending U.S. dollar strength to a 10-week high.
“If the recent correction is deviation, we might break to $29,000 next week.”He cautioned that PCE was “not a great sign” for risk assets, noting the knee-jerk reaction for U.S. dollar strength — traditionally inversely correlated with crypto.“Some consolidation following this month’s rally would be healthy for the dollar,” popular trader Justin Bennett“But a daily and weekly close above 104.
20 opens up 105.00 early next week. The only thing that would turn me bearish on the DXY is a daily close below 103.50.”Bitcoin made snap gains at the May 26 Wall Street open as United States macroeconomic data delivered a nasty surprise.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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