Bitcoin in consolidation as dollar strength reaches 20-year high
Bitcoin has declined below $20,000 after a promising mid-week performance last week but remains within its consolidation range. The Monday sell-off was sparked by a poor weekly open for equities, as the market braces for the CPI release on Wednesday.
Jul 12th 2022
Bitcoin (-3.4%) has declined below $20,000 after a promising mid-week performance last week but remains within its $19k-$22k consolidation range.
The Monday sell-off was sparked by a poor weekly open for equities, as the market braces for the upcoming CPI release on Wednesday, while global turmoil and recession fears are growing. The dollar strength index has reached a 20-year high while the USDEUR pair has reached parity for the first time since 2003.