In the Daily Dive #102, we highlighted the rising DXY (U.S. Dollar Currency Index) in 2021 and the negative impact it can have on bitcoin’s price. Today, with Federal Reserve Board Chair, Jerome Powell, talking about the rising risk of persistently high inflation in the United States and a potential accelerated taper, DXY, SPX and bitcoin markets immediately reacted. The DXY jumped over 1% with both the S&P 500 Index and bitcoin falling in tandem.
Reading:
9 HOURS AGO HOW THE BITCOIN MARKET REACTED TO FEDERAL RESERVE COMMENTS ON ONGOING INFLATION
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