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Cryptocurrency News

Stronger dollar prospects risk pushing down Bitcoin price to $32K

04/07/2022

Less than a minute

2022.04.07 23:01

The U.S. dollar’s ability to continue its rally in Q2 could prove fatal for Bitcoin (BTC), which has demonstrated an inverse correlation with the dollar since January 2022.

The U.S. dollar index (DXY), which measures the greenback’s strength against a basket of foreign currencies, reached its 21-month trading high of 99.82 on April 7, the highest level since May 2020.