US dollar goes 'no-bid' — 5 Things to know in Bitcoin this week
Bitcoin (BTC) experienced a 3% increase, reaching $87,705, amid macroeconomic instability related to the US-China trade war. Traders expressed skepticism about the price spike, citing low trading volume during non-TradFi hours. Analysts noted that BTC must surpass $88,804 to break a series of lower highs. The Federal Reserve's upcoming comments on monetary policy are anticipated, especially amid President Trump's criticism of Fed Chair Jerome Powell. Gold has surged nearly 30% year-to-date, nearing $3,400 per ounce, driven by trade war fears. The US dollar index (DXY) fell 1.3%, marking a nearly 10% decline for the year, potentially signaling a bullish trend for Bitcoin and commodities. New Bitcoin buyers are showing short-term profits, while short-term holders remain at a loss until BTC exceeds a $91,000 threshold.
