Someone is once again stirring up the “strong US dollar” narrative—but this time it can’t push Bitcoin around
XLM has fallen to $0.23, ENA is stuck around $0.26, and yet people still say a strong dollar spells disaster. I’ve heard this argument at least a dozen times in every cycle. Today CoinDesk even published a report to directly rebut it: a stronger dollar isn’t the threat to BTC that traders think it is. I’ll state my position up front—this time it won’t be able to suppress it.
First, look at how the altcoins are being absorbed: XLM at $0.23 and ENA at $0.26 have both been pressed down to the point where there’s not much further downside, and the buyers didn’t really exit. Money hasn’t left the poker table—it’s just moving seats: shifting out of large-cap plays and probing into this gap in the altcoin market. If the strong dollar really were a veto, the bids for alts wouldn’t still be this thick. The logic is even firmer on BTC’s side: its most reliable buy pressure comes from the ETF accounts—passive investors that follow a weekly plan to enter. They simply don’t care about the dollar index’s mood.
What truly decides tonight is the US inflation data—not the dollar. The data will be hot. If it comes in hot, this round of altcoin rotation will first stumble. If it’s mild, whichever—XLM or ENA—can be the first to increase volume and hold its ground, I’ll call out separately.
So my conclusion is just one sentence: the people scared off by the dollar this time are often the ones who regret it first. At this time tomorrow night, I’ll use the performance of XLM and ENA to give the answer.
🐶 Let’s take a look at Old Ma’s little dog ✨🚀
XLM has fallen to $0.23, ENA is stuck around $0.26, and yet people still say a strong dollar spells disaster. I’ve heard this argument at least a dozen times in every cycle. Today CoinDesk even published a report to directly rebut it: a stronger dollar isn’t the threat to BTC that traders think it is. I’ll state my position up front—this time it won’t be able to suppress it.
First, look at how the altcoins are being absorbed: XLM at $0.23 and ENA at $0.26 have both been pressed down to the point where there’s not much further downside, and the buyers didn’t really exit. Money hasn’t left the poker table—it’s just moving seats: shifting out of large-cap plays and probing into this gap in the altcoin market. If the strong dollar really were a veto, the bids for alts wouldn’t still be this thick. The logic is even firmer on BTC’s side: its most reliable buy pressure comes from the ETF accounts—passive investors that follow a weekly plan to enter. They simply don’t care about the dollar index’s mood.
What truly decides tonight is the US inflation data—not the dollar. The data will be hot. If it comes in hot, this round of altcoin rotation will first stumble. If it’s mild, whichever—XLM or ENA—can be the first to increase volume and hold its ground, I’ll call out separately.
So my conclusion is just one sentence: the people scared off by the dollar this time are often the ones who regret it first. At this time tomorrow night, I’ll use the performance of XLM and ENA to give the answer.
🐶 Let’s take a look at Old Ma’s little dog ✨🚀