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.

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.

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