CoinVoice has recently learned that, according to The Block, Bitcoin prices are nearing $100,000, but André Dragosch, the Director of Research at Bitwise Europe, warns that a strengthening dollar could pose resistance to further increases in Bitcoin.
He pointed out that historical data shows that Bitcoin tends to perform poorly during periods of dollar appreciation, and a strengthening dollar often means tightening global liquidity, which could adversely affect Bitcoin's short-term performance.
In addition, expectations that the Bank of Japan (BoJ) may raise interest rates in December have also raised market concerns. Analysts believe that the expectation of a yen interest rate hike could lead to pressure on 'yen carry trades,' resulting in volatility for risk assets, including Bitcoin. The recent rise in Tokyo's consumer price index further supports this view, as BoJ Governor Kazuo Ueda stated that the Japanese economy is moving towards wage-driven sustained inflation. [Original link]
