The rising dollar is no longer the only problem facing Bitcoin.
The US Dollar Index (DXY) has declined and entered a price range, easing the external pressures that dominated much of the bear market.
However, Bitcoin's risk index has risen to 58, indicating increasing selling pressure as the price approaches a breakout point.
The May rally combined a weaker dollar with reduced risk.
Today, the dollar is offering some relief, but Bitcoin's internal structure is unable to convert this weakness into a positive factor.
#Write2Earn
The US Dollar Index (DXY) has declined and entered a price range, easing the external pressures that dominated much of the bear market.
However, Bitcoin's risk index has risen to 58, indicating increasing selling pressure as the price approaches a breakout point.
The May rally combined a weaker dollar with reduced risk.
Today, the dollar is offering some relief, but Bitcoin's internal structure is unable to convert this weakness into a positive factor.
#Write2Earn