The sell-off in the Bitcoin market, in particular, intensified due to excessively leveraged bullish bets.
Category: US Dollar Index
Bitcoin is in wait-and-see mode as the dollar trades near two-month lows on warnings that the Fed could continue its stimulus programs.
The analyst also treats the latest crypto ban in China as bullish for Bitcoin and the U.S. dollar.
A strengthening dollar could be negative for pretty much every risk asset on board, including Bitcoin, whose value boomed against the dwindling greenback after March