The dollar is up for a fifth straight day, gold is down, and crypto is flat. Risk off is quietly winning. 💵
The Daily Market Report shows the dollar index up 0.75 percent at 114.86, gold down 0.46 percent at 3,981.90 dollars, and WTI near 99.64 dollars, while the S and P 500 gained 1.31 percent and the Nasdaq jumped 1.60 percent, yet Bitcoin sits flat near 73,528 dollars. 📊 The 10 year yield sits at 4.88 percent, the bond market reopens after the holiday, and Deutsche Bank is calling for three hikes in a row, with 85.5 percent odds of a December hike. My reading is that a strong dollar plus rising hike odds is the headwind behind every failed crypto bounce, because risk assets do not rally when money itself is getting more expensive.
Does the dollar finally cool off, or does it push crypto lower into Friday? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #Dollar
The Daily Market Report shows the dollar index up 0.75 percent at 114.86, gold down 0.46 percent at 3,981.90 dollars, and WTI near 99.64 dollars, while the S and P 500 gained 1.31 percent and the Nasdaq jumped 1.60 percent, yet Bitcoin sits flat near 73,528 dollars. 📊 The 10 year yield sits at 4.88 percent, the bond market reopens after the holiday, and Deutsche Bank is calling for three hikes in a row, with 85.5 percent odds of a December hike. My reading is that a strong dollar plus rising hike odds is the headwind behind every failed crypto bounce, because risk assets do not rally when money itself is getting more expensive.
Does the dollar finally cool off, or does it push crypto lower into Friday? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #Dollar
