Popular analyst Crypto Ed thinks Bitcoin's chances to hit $24K anytime soon are scarce, while Glassnode had identified signs that the market could be in its final part of the bear cycle. In the meantime, the US dollar cools down.
The intraday losses had come at the hands of a rampant U.S. Dollar Index , which hit itsU.S. dollar Index 1-hour candle chart. Source: TradingView
A subsequent pause gave U.S. equities room to breathe, with both the S&P 500 and Nasdaq stemming losses on the day.Way more responsive to DXY’s downside than it’s upside.With the July 13 Consumer Price Index print in focus, however, optimism around crypto on shorter timeframes was barely perceptible.
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