{"id":428602,"date":"2022-04-08T17:16:10","date_gmt":"2022-04-08T14:16:10","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-plumbs-april-lows-as-us-dollar-strength-hits-highest-since-may-2020\/"},"modified":"2022-04-08T17:16:10","modified_gmt":"2022-04-08T14:16:10","slug":"bitcoin-plumbs-april-lows-as-us-dollar-strength-hits-highest-since-may-2020","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-plumbs-april-lows-as-us-dollar-strength-hits-highest-since-may-2020\/","title":{"rendered":"# Bitcoin plumbs April lows as US dollar strength hits highest since May 2020"},"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-6a3c1ae1221f0\" 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-6a3c1ae1221f0\" 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-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-plumbs-april-lows-as-us-dollar-strength-hits-highest-since-may-2020\/#%E2%80%9D_Bitcoin_plumbs_April_lows_as_US_dollar_strength_hits_highest_since_May_2020_%E2%80%9C\" >&#8221; Bitcoin plumbs April lows as US dollar strength hits highest since May 2020 &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-plumbs-april-lows-as-us-dollar-strength-hits-highest-since-may-2020\/#43000_hangs_in_the_balance\" >$43,000 hangs in the balance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-plumbs-april-lows-as-us-dollar-strength-hits-highest-since-may-2020\/#LUNA_brings_up_the_rear_on_major_altcoins\" >LUNA brings up the rear on major altcoins<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_plumbs_April_lows_as_US_dollar_strength_hits_highest_since_May_2020_%E2%80%9C\"><\/span>&#8221; Bitcoin plumbs April lows as US dollar strength hits highest since May 2020 &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Bitcoin (BTC) neared new price lows for April on April 8&#8217;s Wall Street open amid a fresh surge in the U.S. dollar.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/ff1e0ecb-1e89-436b-a393-4cf9f38147d0.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=\"43000_hangs_in_the_balance\"><\/span>$43,000 hangs in the balance<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=BINANCE\">TradingView<\/a>\u00a0captured another day of gloom for BTC bulls as the largest cryptocurrency slipped back under $43,000.<\/p>\n<p>In a classic move, BTC\/USD reacted unfavorably to a resurgent dollar, with the U.S. dollar currency index (DXY) returning above 100 for the first time since May 2020.<\/p>\n<p>Coming on the back of tightening measures from the Federal Reserve, the greenback also spelled a headache for stocks, which opened down on the day.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/ebe5126c-f0da-4ee8-80ce-953b707a49ce.png\"><figcaption style=\"text-align: center;\"><em>U.S. dollar currency index (DXY) 1-week candle chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>While some considered the DXY event a temporary show of strength, its impact on crypto markets was clear to see, exacerbating an already wavering recovery from months of downside.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Huge risk-off shift in TradFi in the last few hours&#8230; Dollar index &gt;100 for the first time since May 2020<\/p>\n<p>US equities puking in pre-hours&#8230; crypto down, but not as much as it should be all things considered<\/p>\n<p>\u2014 tedtalksmacro (@tedtalksmacro) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/tedtalksmacro\/status\/1512429571378860037?ref_src=twsrc%5Etfw\">April 8, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&#8220;Now the bullish chart is getting confirmation, which tells me we are closer to the end of this bull leg on DXY,&#8221; popular analyst Aksel Kibar <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TechCharts\/status\/1512424754132795394\">told<\/a> <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> followers as a part of his comments.<\/p>\n<p>For Cointelegraph contributor Micha\u00ebl van de Poppe, the area between spot price and $40,000 was crucial to hold to preserve Bitcoin&#8217;s uptrend.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> <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>roaching crucial level to test if it wants to continue moving upwards, to potentially $56K. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/pip6E4qoWE\">pic.twitter.com\/pip6E4qoWE<\/a><\/p>\n<p>\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1512422030355873795?ref_src=twsrc%5Etfw\">April 8, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Beyond the dollar, Bitcoin was also struggling against another resurgent currency just weeks after hitting all-time highs against it.<\/p>\n<p>The Russian ruble, fresh off record lows against all major world currencies, returned with a vengeance over the week, on April 8 beating its 2022 best in USD terms.<\/p>\n<p>BTC\/RUB traded at 3.46 million at the time of writing, its lowest since Feb. 27 and 34% below its record.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/52214ac4-8974-460e-a8de-4b545e1d5324.png\"><figcaption style=\"text-align: center;\"><em>BTC\/RUB 1-day candle chart (Binance). Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"LUNA_brings_up_the_rear_on_major_altcoins\"><\/span>LUNA brings up the rear on major altcoins<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On altcoins, Ether (ETH) was a rare island of calm on the day as many of the top ten cryptocurrencies by market cap showed signs of strain.<\/p>\n<p><strong><em>Related:\u00a0Bitcoin trader eyes $38K dip as Cathie Wood confirms $1M BTC price target by 2030<\/em><\/strong><\/p>\n<p>ETH\/USD traded flat at $3,220, limiting weekly losses after some impressive levels were reclaimed.<\/p>\n<p>A notable weak performer on the daily chart was Terra (LUNA), down 6% at the time of writing, despite the buzz behind its issuer&#8217;s stablecoin backing plans.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/073a3e65-5ad8-4460-b94f-d9735a7fca4d.png\"><figcaption style=\"text-align: center;\"><em>LUNA\/USD 1-day candle chart (Binance). Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Near Protocol (NEAR), also planning to release an algorithmic stablecoin, saw considerable upside over the past 24 hours after raising $350 million.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/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-plumbs-april-lows-as-us-dollar-strength-hits-highest-since-may-2020\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin plumbs April lows as US dollar strength hits highest since May 2020 &#8220; Bitcoin (BTC) neared new price lows for April on April 8&#8217;s Wall Street open amid a fresh surge in the U.S. dollar. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView $43,000 hangs in the balance Data from Cointelegraph Markets Pro and&#8230;<\/p>\n","protected":false},"author":1,"featured_media":428603,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvNWU0NzgwY2UtYjk2Ni00NWNiLWFmMDQtMjhmODMzOTE0MTNhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74937,82402,122378,73785,4975],"class_list":["post-428602","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin","tag-bitcoin-price","tag-ether-price","tag-terra","tag-markets","tag-russia"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/428602","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=428602"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/428602\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/428603"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=428602"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=428602"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=428602"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}