It could still go either way for Bitcoin price action, but one analyst believes Bitcoin is already coming out on top versus equities.
Bitcoin (BTC) may continue its “bear market,” one trader says amid hope that a U.S. dollar reversal could soon improve BTC price action.In his latest YouTube update on May 2, Cointelegraph contributor Michaël van de Poppe argued that USD’s current surge would not last long.Dollar strength reversal “close”Bitcoin is still under pressure as stocks and crypto alike face the reality of a major policy flip from the U.S. Federal Reserve. Due to be announced this week, the Fed is tipped to end the “free money” era since the March 2020 COVID crash once and for all — and risk assets should be first to suffer.The COVID crash saw the previous peak in the U.S. dollar index (DXY), which then declined as Bitcoin led crypto markets to new highs. That inverse correlation since turned around once
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