How The Dollar (DXY) Is Responsible For Bitcoin Rejection Under $14,000

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Bitcoin has been explosive for the past few weeks now, revisiting highs from 2019. But before the leading cryptocurrency by market cap could set a higher high and confirm a bull market, the dollar’s recovery might have gotten in the way. According to the DXY Dollar Currency Index, the greenback has formed a rounding bottom and broken upward out from a falling wedge reversal pattern. But why exactly is this bearish for Bitcoin, and what could it mean for the cryptocurrency market bull run that might have been brewing? Bitcoin Bull Market Was Just Inches Away, But The Still Dominant Dollar Says No Nearly all signs are pointing to Bitcoin being on the cusp of a critical break out into a new bull market. The one thing holding the cryptocurrency back currently is resistance from last year’s high at around $13,800. Crypto analysts claim that above there, its clear skies…

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