Macro analysis of the relationship btw Cryptocurrency mcap & DXY
As we can see in the chart above, DXY has reverse correlation to the Total market cap of Cryptocurrencies. The lower the DXY, The more money injected to Crypto.
DXY is in a critical level. If Dollar gains strength, That wouldn't be good sign for Crypto. But in my personal opinion, I think Dollar will lose strength from here.
Simply because of rapid money printing by the FED and the expected debt limit increase.
DXY is in a critical level. If Dollar gains strength, That wouldn't be good sign for Crypto. But in my personal opinion, I think Dollar will lose strength from here.
Simply because of rapid money printing by the FED and the expected debt limit increase.