The post Mega-Bullish Signal Flashes for the Bitcoin (BTC) Price; $40,000 Target Activated! appeared first on Coinpedia Fintech News
The US CPI rates came out beyond anyone’s expectations, with rates lowered from 4% to 3%. This was one of the bullish indicators for the crypto space, but unfortunately, Bitcoin and the other major cryptos were merely impacted. Moreover, the tokens experienced a slight pullback but stand strong above the major support. Nevertheless, a massive bullish signal has just flashed, that may lift the price beyond $35,000 in the next few weeks.
It is a known fact that Bitcoin and the DXY Index, which indicate the strength of the US Dollar, are inversely correlated. Whenever the DXY Index rises, it means the US dollar is becoming more robust, which is when BTC prices experience a significant pullback as liquidity flows back to the traditional markets. In the reverse case, the BTC price gains significant strength with a drop in the DXY Index levels.
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