Will Bitcoin’s rally sustain? DXY, SPX, GC and WTI could have the answer By Cointelegraph
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Will Bitcoin’s rally sustain? DXY, SPX, GC and WTI could have the answerFederal Reserve Chairman Jerome Powell said in a question and answer session hosted by the Cato Institute on Sept. 8 that the central bank will continue to hike rates until inflation is under control. However, these comments did not rattle the markets as much as most would have anticipated, indicating that traders might have already factored in a 75 basis point rate hike in the Fed’s next meeting on Sept. 20–21.
has been strongly correlated with the S&P 500 and inversely correlated with the United States (DXY) for the past several weeks. With the DXY cooling off after hitting a two-decade high, risky assets have been attempting a recovery.
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Will Bitcoin’s rally sustain? DXY, SPX, GC and WTI could have the answerFederal Reserve Chairman Jerome Powell said in a question and answer session hosted by the Cato Institute on Sept. 8 that the central bank will continue to hike rates until inflation is under control. However, these comments did not rattle the markets as much as most would have anticipated, indicating that traders might have already factored in a 75 basis point rate hike in the Fed’s next meeting on Sept. 20–21.
has been strongly correlated with the S&P 500 and inversely correlated with the United States (DXY) for the past several weeks. With the DXY cooling off after hitting a two-decade high, risky assets have been attempting a recovery.
Continue Reading on Coin Telegraph
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