Bitcoin (BTC) and the U.S. Dollar Index (DXY) have been battling for supremacy in the financial world, with both assets vying for dominance in a zero-sum game. The recent volatility seen in the markets is a testament to the intensity of this battle. It is becoming increasingly clear that the outcome of this showdown will have significant implications for both assets and the financial world.
How Bitcoin Plans To Take On The Dollar
According to JJ the Janitor, an analyst at Jarvis Labs, any decline in the dollar’s value is good for Bitcoin, and vice versa. This means that the two assets are competing for the same market share, and whichever one comes out on top will dictate the market’s direction for the rest of 2023.
As JJ the Janitor notes, DXY has held above the crucial line of support at 100.80 since April 15. This has created market tension, as BTC and DXY have been consolidating in tightly compressed ranges. However, this month-long structure will break sooner or later, and bot
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