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Analysts claim that the US dollar has not shown its usual power in safe during the recent conflict of Iran-Israeli conflict, while bitcoins grow in another attempt to achieve their $ 111,970 at a high level.
“The dollar index dabbits today in a new cycle,” macroeconomist Lyn Alden said Wednesday Wednesday. “She has barely received any safety flight offer in the last few weeks,” Alden added.
“Fiat disappears,” says the analyst
Echo of a similar sentiment, real vision of crypto analyst Jamie coutts said that “Fiat disappears”. The US dollar index (DXY), which measures USD’s strength against the world’s main currencies, has been traded at the lowest point since February 2022, and sits at 97.50 at the time of publication. according to for trading data.
Now it is almost the same level reached on 13 June, when the tension escalated for the first time after Israel began air strikes in Iran.
In situations like this, market participants usually expect to move from more risky assets, such as cryptocurrencies, safer options such as US dollar or government bonds. In October 2024, the main missile strike According to Iran targeting places all over Israel He led to DXy Spiking 2.67% per month.
Traders emphasize the recent power of bitcoins
While the US dollar did not come across bitcoin during the recent conflict (BTC) Experienced volatility.
On Sunday Bitcoin briefly dropped below $ 100,000 for the first time since the beginning of May. From US President Donald Trump, however Sharply entered a fragile truce Monday has been reflected since then and at the time of publication traded for $ 107,930, according to for CoinMarketcap data.
Crypto analyst Matthew Hyland said that “bulls have control”, while others point to the strong resistance of bitcoins despite recent risk conditions.
Crypto is today’s emerging market trade
“Bitcoin has broken two two weeks in the last month,” Crypto Rect Capital Analyst said Wednesday.
Coutts Real Vision caused a comparison between the current macro environment and the early 1920s, when the weakening dollar led to the rotation of capital to developing markets and commodities.
“If you remember 2002–2008, the last major depreciation of the dollar lit fire under the stock and commodities,” Coutts said.
Related: Bitcoin Bulls stops $ 4K BTC Price Dip when US Dollar hits a new 3 -year minimum
“EM overcame DM by 3x because capital was persecuted by high growth, the young economy-what led to BRICS,” he said, adding that the new developing market is crypto:
“Crypt is today’s capital moving where energy is,” he said.
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This article does not contain investment counseling or recommendations. Every investment and business step includes a risk and readers should do their own research in decision -making.
