What’s going on? The USD is strengthening, yet Bitcoin is soaring above $86,000? Could this be a sweet trap that crypto traders are stepping into?
After a strong recovery from its lowest point since April ($80,600), Bitcoin has surpassed the $86,000 mark. Notably, this recovery is happening amidst a strong USD (DXY), holding firm above 100 and nearing a 6-month peak, thanks to impressive U.S. non-farm payroll (NFP) reports.
However, experts are warning that this price increase may not be sustainable. Some analysts believe that Bitcoin's strength might just be a "wave B" due to USD volatility, masking the real structural weakness of BTC, especially when compared to gold. The uncertainty regarding the FED's interest rate policy is also causing the market to "headache".
The market is always volatile. What do you think about these developments? Let’s stay updated and share your perspective!
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