$BTCUSD Forex Signal: Cautiously Optimistic About Bitcoin bitcoinprice bitcointrading bitcoinsignal
Bitcoin remained steady slightly below $20,000 even as bond yields and the US dollar index slipped and American equities jumped. It was trading at 19,600 on Tuesday morning.The BTC/USD price has had a strong correlation with American stocks for most part of this year.
Bitcoin’s inverse relationship with the US dollar has also eased. For example, the US dollar index rose to its highest level in more than two decades as BTC consolidated. It is still unclear why this disconnect has happened recently. Meanwhile, on-chain data show that activity in Bitcoin’s network has bee relatively muted. The number of new accounts created has declined while the volume of transactions has pulled back in the past few weeks.
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