Buy the dip, or wait for max pain? Analysts debate whether Bitcoin price has bottomed By Cointelegraph


Buy the dip, or wait for max pain? Analysts debate whether Bitcoin price has bottomed

It has been a rough week for the cryptocurrency market, primarily because of the ecosystem collapse and its knock-on effect on (BTC), (ETH) and altcoin prices, plus the panic selling that took place after stablecoins lost their peg to the U.S. dollar.

The bearish headwinds for the crypto market have been building since late 2021 as the U.S. dollar gained strength and the United States Federal Reserve hinted that it would raise interest rates throughout the year.

DXY index performance. Source: Delphi Digital
vs. DXY Index (inverted) and a rolling 60-day correlation. Source: Delphi Digital
BTC/USD vs. 200-week EMA vs. 14-week RSI. Source: Delphi Digital
Bitcoin fund inflows relative to price trend. Source: Twitter (NYSE:)