This Tuesday, Bitcoin surged as the U.S. dollar tumbled to four-year lows following remarks by Donald Trump. Speaking with the media in Iowa, the president shrugged off the currency’s weakness, causing the DXY index to drop to 95.80 points, while Bitcoin seized the momentum to climb toward $89,300.
The current macroeconomic landscape has favored reserve assets amid the greenback’s devaluation. Gold also joined the action, reaching a new all-time high of $5,215, while Bitcoin managed to reverse the bearish trend of recent days. According to analysts from Swissblock and Willy Woo, a bullish divergence has been identified in the RSI indicator, which typically precedes significant recovery movements.
Over the coming hours, the resistance zone at $95,000 will be closely monitored, as will the technical target projected by the Bitcoin Vector research service. Investors should remain alert this Wednesday for the Federal Reserve’s decision on interest rates, as any comments from Jerome Powell could inject the volatility needed to consolidate this reversal or force a new phase of consolidation.
Source:https://www.nbcnews.com/video/watch-live-trump-delivers-economic-remarks-in-iowa-256677445660
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