Bitcoin has struggled to break above the $70,000 region.
DXY surge in the past two months caused Bitcoin’s price to stall.
An overbought DXY condition signals a potential Bitcoin surge soon.
Bitcoin failed to break above $70,000, and the Thinking Crypto podcast analyst connects this to the dollar currency index (DXY). The analyst identified a DXY surge over the past two months, explaining how the inverse correlation between the two influenced Bitcoin’s price.
This is When Bitcoin & Altcoins Will PUMP! (Crypto Bull Run)
WATCH 
https://t.co/uA1AngeaTX#crypto #bitcoin #ethereum #altcoins #bullrun #xrp #solana #coinbase #base #ai #thinkingcrypto pic.twitter.com/BymifIdchV
— Tony Edward (Thinking Crypto Podcast) (@ThinkingCrypto1) October 28, 2024
Despite the DXY’s significant rise since September, Bitcoin demonstrated resilience by avoiding a major decline. However, it stalled, unable to surge as many in the crypto community anticipated. The current outlook indicates BTC could soon rally as the DXY approaches overbought conditions.
Analyst Predicts DXY Breakdown and Bitcoin Rally
The Thinking Crypto analyst expects the DXY to decline because of its ove…
The post Bitcoin Poised for Rally as Dollar Index Weakens – Analyst appeared first on Coin Edition.
