NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets

A $10,000 Bitcoin Retest Likely as Dollar Loses Its Charm

Yashu Gola
Yashu Gola
1 year ago
3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

  • Bitcoin repeatedly failed to hold its prices above $10,000 since February 2020.
  • The cryptocurrency on Tuesday fell by more than $1,000 from its quarterly high above $10,400, logging another upside rejection above the $10K level.
  • But a stark US dollar warning could send investors back to Bitcoin and other risky assets, helping it break and hold the $10K support.

Bitcoin broke below $10,000 – all over again.

The flagship cryptocurrency jumped the six-figure level on Tuesday, extending its move towards a new quarter-to-date high at $10,428. Nevertheless, traders used the price rally as their gateway to extract attractive short-term profits. A massive sell-off ensured near the top, causing bitcoin to fall to as low as $8,600.

The pullback was not a new thing for Bitcoin bulls. The cryptocurrency turned away from pursuing a price rally above $10,000 for about twelve times since October 2019. So it seems, spot traders’ upside bias loses momentum near the said level – they ignore buying bitcoin at or above $10,000.

bitcoin, btc usd, xbt usd, btcusdt, cryptocurrency, stocks, gold
BTCUSD choppy above $9,500-support | Source: TradingView.com, Coinbase

There are no specific reasons that explain those fears – except a separate, long-term descending trendline bitcoin has failed to break above since December 2017.

It is safe to assume that pullbacks near the $10K level are emotionally-driven. The market can invalidate them only if traders begin to see a long-term upside for the cryptocurrency. Fortunately, a Wall Street warning is taking the Bitcoin sentiment right into bullish territory.

The Risky US Dollar

A weak dollar could be a recipe for a stronger Bitcoin, at least per their recent trend behaviors.

The bitcoin price crashed in February and March trade by more than 60 percent. The dramatic fall came in the wake of a global pandemic that sent economies into a lockdown state. Investors panicked and sold-off their risky positions to seek shelter in what they believed was the best safe-haven during a crisis: the US dollar.

As bitcoin, equities, and even gold suffered during the Q1’s global market rout, the US dollar index rose 8.81 percent. Nevertheless, the Federal Reserve’s decision to introduce an infinite stimulus package put some pressure off the investors. That resulted in capital outflow back into risky assets.

As a result, bitcoin, the S&P 500 index, and gold all rose in tandem. At the same time, the US dollar index fell 5.49 percent from its YTD top.

us dollar index, dxy, bitcoin
DXY has posted seven consecutive negative sessions | Source: TradingView.com

The flipping dollar behavior prompted Wall Street firms to give a more bearish outlook for the greenback.

Strategists at Goldman Sachs recommended its clients to position for dollar downsides in their portfolios. JP Morgan & Chase, too, suggested the same, adding that easing lockdown measures and reopening of the economies would keep the dollar weak.

“We no longer have the confidence to stand in the way of this optimism and further neutralize our previously defensive trade recommendations,” the bank wrote in a client note seen by Financial Times.

Growth Call for Bitcoin

If the global economy is bottoming out, it will make investors short the US dollar and move their capital back into risky assets. That may benefit Bitcoin.

The cryptocurrency is climbing as a long-term safe-haven asset against the possibilities of inflation caused by the Federal Reserve’s open-ended stimulus package. Investors looking to move past lower yields offered by their safe but boring U.S. Treasury bonds could also pick Bitcoin for its higher risk-reward profile.

The long-term sentiment makes it like for the cryptocurrency to retest $10,000 – or move beyond it to eye higher levels.

Tweet123Share208ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Dogecoin (DOGE) Drops Over 5%

Dogecoin (DOGE) Drops Over 5% – Is This the Start of a Bigger Crash?

Dogecoin started a fresh decline below the $0.2650 zone against the US Dollar. DOGE is now consolidating and might dip...

Aayush Jindal 2 hours ago
XRP Price Dips Below $3

XRP Price Dips Below $3 – Could This Trigger a Bigger Bearish Wave?

XRP price started a fresh decline below the $3.00 zone. The price is now showing bearish signs and might decline...

Aayush Jindal 3 hours ago
비트코인 금리 인하 수혜 전망…레이어2 프로젝트 ‘비트코인 하이퍼’ 투자 열기 확산

비트코인 금리 인하 수혜 전망…레이어2 프로젝트 ‘비트코인 하이퍼’ 투자 열기 확산

미 연방준비제도이사회(Fed)가 기준금리를 0.25%p 인하했다. 이번 조치는 미국 동부시간 기준으로 오후 2시부터 적용됐다. 같은 날 열린 기자회견에서 제롬 파월(Jerome P...

Soyeon Lee 4 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

AxCNH and KRW1 Stablecoins Launch in Asia as $BEST Token Soars Past $16M on Presale

AxCNH and KRW1 Stablecoins Launch in Asia as $BEST Token Soars Past $16M on Presale

Aaron Walker 38 minutes ago
Binance Coin's Epic 10% Rally: Which Best Altcoins Will Explode Next?

Binance Coin’s Epic 10% Rally: Which Best Altcoins Will Explode Next?

Aaron Walker 1 hour ago

Dogecoin Price Could Break Into Double-Digit Rally From This Fibonacci Level

Scott Matherson 2 hours ago

Premium Sponsors

Press Releases

  • パイネットワーク...

    2 days ago
  • Cele mai bune altcoin-uri de cumpărat, pe măsură ce prețul Solanei se apropie de maximul istoric

    Cele mai bune altcoin-uri de cumpărat, pe măsură ce...

    2 days ago
  • Cele mai bune meme coin-uri de cumpărat acum, pe măsură ce capitalizarea pieței se apropie de 1,9 trilioane RON

    Cele mai bune meme coin-uri de cumpărat acum, pe măsură...

    2 days ago
  • Cele mai bune meme coin-uri de cumpărat acum, pe măsură ce capitalizarea pieței se apropie de 1,9 trilioane RON

    Nejlepší meme coiny k nákupu nyní, když se tržní...

    2 days ago
  • Cele mai bune altcoin-uri de cumpărat, pe măsură ce prețul Solanei se apropie de maximul istoric

    Nejlepší altcoiny k nákupu, když se cena Solany...

    2 days ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.