Source: Cointelegraph/TradingViewThe weakening US dollar may reinforce Bitcoin’s appeal as a safe-haven asset, Ryan Lee, chief analyst at Bitget Research, told Cointelegraph, adding:“Strong volume and technical confirmation from a descending wedge breakout suggest a potential test of the $90,000 resistance, with macro factors like a weakening dollar and rising gold correlation reinforcing BTC’s appeal as a hedge.”Despite the recent correction, Japanese and UK-based investment firms are investing hundreds of millions into Bitcoin, signaling continued institutional adoption that may accelerate Bitcoin’s four-year cycle.
Related: Metaplanet tops $400M Bitcoin holdings with new $28M purchaseUS dollar sinks to 2022 low, Bitcoin gains momentumBitcoin price briefly rose above $87,700 for the first time in nearly three weeks, since US President Donald Trump announced reciprocal import tariffs on April 2.“Looks like Bitcoin is pumping on continued Dollar weakness,” wrote André Dragosch, the European head of research at Bitwise, adding that the US Dollar Index “just touched the lowest level since March 2022.”BTC, DXY, 1-year chart.
Source: Jamie CouttsThe growing money supply may push Bitcoin’s price above $132,000 before the end of the year, according to Jamie Coutts, chief crypto analyst at Real Vision.
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Author / Journalist: Cointelegraph by Zoltan Vardai
The story "Bitcoin rally above $100K may follow US Treasury buybacks — Arthur Hayes" has 424 words across 15 sentences, which will take approximately 2 - 4 minutes for the average person to read.
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