{"id":388982,"date":"2022-01-03T18:17:31","date_gmt":"2022-01-03T15:17:31","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-dips-below-47k-as-us-dollar-surge-dampens-btc-price-performance\/"},"modified":"2022-01-03T18:17:31","modified_gmt":"2022-01-03T15:17:31","slug":"bitcoin-dips-below-47k-as-us-dollar-surge-dampens-btc-price-performance","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-dips-below-47k-as-us-dollar-surge-dampens-btc-price-performance\/","title":{"rendered":"# Bitcoin dips below $47K as US dollar surge dampens BTC price performance"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a383d47beac9\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a383d47beac9\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-dips-below-47k-as-us-dollar-surge-dampens-btc-price-performance\/#Ethereum_steals_the_limelight\" >Ethereum steals the limelight<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-dips-below-47k-as-us-dollar-surge-dampens-btc-price-performance\/#Never_mind_the_bearish_divergence\" >Never mind the bearish divergence<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin dips below $47K as US dollar surge dampens BTC price performance <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) crisscrossed $47,000 on Jan. 3 as the first Wall Street trading days of 2022 got off to a modest start.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/a86cbaa0-08a5-4e7e-8159-e817029ba8b8.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Ethereum_steals_the_limelight\"><\/span>Ethereum steals the limelight<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/?exchange=BITSTAMP\">TradingView<\/a> showed BTC\/USD acting in a narrow range as the week began, with traders split over short-term outcomes.<\/p>\n<p>&#8220;It&#8217;s just a matter of time before BTC breaks out, and the longer it takes the harder it will pump,&#8221; popular <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> account Galaxy <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/galaxyBTC\/status\/1477936400184090631\">summarized<\/a>. <\/p>\n<blockquote><p>&#8220;Q1 is up only. You heard it here first.&#8221;<\/p><\/blockquote>\n<p>Such optimism was far from universal, however. For Cointelegraph contributor Micha\u00ebl van de Poppe, the time had come to look closer at altcoins than BTC.<\/p>\n<p>&#8220;Good bounce from Ethereum and I think this one is bottomed,&#8221; he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1477962946319765505\">said<\/a> about the state of ETH\/USD Monday. <\/p>\n<blockquote><p>&#8220;Still need additional confirmation, but shows more strength than Bitcoin at this point. Ultimate confirmation above $4,100.&#8221;<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1477962946319765505\/photo\/1\"><\/a><\/p><\/blockquote>\n<p>ETH\/USD was up over 2% in 24 hours at the time of writing, with BTC\/USD conversely showing no inclination to tackle even daily highs.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/d1af2ca1-c500-49c1-8c30-b15afad1914e.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<p>On macro markets, the S&amp;P 500 was up a touch at the Wall Street open, amid predictions that the first half of the year would be a further boon for equities across the board thanks to the prospect of key interest rate hikes.<\/p>\n<p>The U.S. dollar, meanwhile, saw a sudden boost Monday, with the U.S. dollar currency index (DXY) rapidly gaining \u2014 as is customary, to Bitcoin&#8217;s detriment.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/26727233-ca9d-455d-a65e-0e59e0a284e8.png\"><figcaption style=\"text-align: center;\"><em>U.S. dollar currency index (DXY) 1-hour candle chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Never_mind_the_bearish_divergence\"><\/span>Never mind the bearish divergence<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among Bitcoin-focused analysts, meanwhile, TechDev led calls to quash bearishness, arguing that on-chain indicators do not support a bearish thesis.<\/p>\n<p><strong><em>Related:\u00a0New year, same \u2018extreme fear\u2019 \u2014 5 things to watch in Bitcoin this week<\/em><\/strong><\/p>\n<p>Concerns about both the relative strength index (RSI) and moving average convergence\/ divergence (MACD) pale in comparison to more fundamental indicators still yet to print a bearish outlook, he said at the weekend.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">4\/ <\/p>\n<p>The 2 points are valid to point out, but I don&#8217;t focus on them as they&#8217;ve not been historically accurate at identifying macro cycle trend changes.<\/p>\n<p>2 that have? Macro LLs and 2W RSI floor breaks. Neither of which have h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ened. <\/p>\n<p>If they do, my macro outlook will change. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/qUedP5juZ8\">pic.twitter.com\/qUedP5juZ8<\/a><\/p>\n<p>\u2014 TechDev (@TechDev_52) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TechDev_52\/status\/1477858806554144768?ref_src=twsrc%5Etfw\">January 3, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>With conviction remaining high and selling declining, TechDev was in good company.<\/p>\n<p>&#8220;In case no-one noticed, we have come a long way from nerdy retail HODL&#8217;ers being the buyers of last resort,&#8221; entrepreneur Alistair Milne <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/alistairmilne\/status\/1477662459871834115\">added<\/a>. <\/p>\n<blockquote><p>&#8220;We now have billionaires, multinationals and countries waiting to buy the dips. Whoever is taking the other side of the trade needs their head examined IMO.&#8221;\u00a0<\/p><\/blockquote>\n<p>A fresh influx of institutional interest is considered by some to be ready to begin this month.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-dips-below-47k-as-us-dollar-surge-dampens-btc-price-performance\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin dips below $47K as US dollar surge dampens BTC price performance &#8221; Bitcoin (BTC) crisscrossed $47,000 on Jan. 3 as the first Wall Street trading days of 2022 got off to a modest start. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Ethereum steals the limelight Data from Cointelegraph Markets Pro and TradingView showed&#8230;<\/p>\n","protected":false},"author":1,"featured_media":388983,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDEvYzU1NWZjNTMtYTY1YS00OTJhLWFjOWUtMzZlZGVlZDYwYTBkLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74937,82402,74891,73785,70359],"class_list":["post-388982","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin","tag-bitcoin-price","tag-ether-price","tag-ethereum","tag-markets","tag-stocks"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/388982","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=388982"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/388982\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/388983"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=388982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=388982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=388982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}