{"id":439272,"date":"2022-04-29T12:10:43","date_gmt":"2022-04-29T09:10:43","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-price-slow-to-react-as-us-dollar-rally-stops-at-20-year-highs\/"},"modified":"2022-04-29T12:10:43","modified_gmt":"2022-04-29T09:10:43","slug":"bitcoin-price-slow-to-react-as-us-dollar-rally-stops-at-20-year-highs","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-slow-to-react-as-us-dollar-rally-stops-at-20-year-highs\/","title":{"rendered":"# Bitcoin price slow to react as US dollar rally stops at 20-year highs"},"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-6a3bbfaa24729\" 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-6a3bbfaa24729\" 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-price-slow-to-react-as-us-dollar-rally-stops-at-20-year-highs\/#%E2%80%9D_Bitcoin_price_slow_to_react_as_US_dollar_rally_stops_at_20-year_highs_%E2%80%9C\" >&#8221; Bitcoin price slow to react as US dollar rally stops at 20-year highs &#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-price-slow-to-react-as-us-dollar-rally-stops-at-20-year-highs\/#Trader_eyes_40600_as_%E2%80%9Ccrucial%E2%80%9D_breaker\" >Trader eyes $40,600 as &#8220;crucial&#8221; breaker<\/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-price-slow-to-react-as-us-dollar-rally-stops-at-20-year-highs\/#Research_warns_over_hodler_%E2%80%9Ccapitulation%E2%80%9D\" >Research warns over hodler &#8220;capitulation&#8221;<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_price_slow_to_react_as_US_dollar_rally_stops_at_20-year_highs_%E2%80%9C\"><\/span>&#8221; Bitcoin price slow to react as US dollar rally stops at 20-year highs &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Bitcoin (BTC) stayed rangebound on April 29 as a welcome retracement saw the U.S. dollar come down from 20-year highs.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/0dbc9933-31ee-4a3d-85c0-43597cb6bd31.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=\"Trader_eyes_40600_as_%E2%80%9Ccrucial%E2%80%9D_breaker\"><\/span>Trader eyes $40,600 as &#8220;crucial&#8221; breaker<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> showed BTC\/USD hugging support near $39,300 after failing to hold $40,000.<\/p>\n<p>The pair had managed some modest upside despite a \u201cparabolic rally\u201d in U.S. dollar strength throughout the week.<\/p>\n<p>The U.S. dollar index (DXY) finally began cooling Friday after reaching its highest levels since 2002.<\/p>\n<p>Despite its inverse correlation, BTC\/USD had yet to show any signs of direct benefit from the changing mood at the time of writing.<\/p>\n<p>Cointelegraph contributor Micha\u00ebl van de Poppe was nonetheless confident that bullish momentum would return to Bitcoin in the short term.<\/p>\n<p>\u201cBitcoin is getting into a narrow playing field and is ready for a big impulse move,\u201d he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1519942965799657478\">told<\/a> <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> followers on the day. <\/p>\n<blockquote><p>\u201cI&#8217;m betting on the upside, as the DXY is showing some weakness too. Crucial level to break: $40.3-40.6K first.\u201d<\/p><\/blockquote>\n<p>Van de Poppe had previously highlighted current spot price levels as crucial to hold in order to open up the path towards $42,000 and above.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/59a78a89-9268-4f01-ae11-aa4bfe6d782a.png\"><figcaption style=\"text-align: center;\"><em>U.S. dollar currency index (DXY) 1-day candle chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Further tailwinds for BTC came in the form of Asian market trading, meanwhile, with the Shanghai Composite Index up 2.4% and Hong Kong\u2019s Hang Seng managing 10% on the day in a broad comeback from earlier Coronavirus-induced sell-offs.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Hang Seng Tech Index jumps 10% after China makes another pro-market statement. A meeting is set to occur soon between govt &amp; major tech comps, raising hopes that the regulatory landscape for this industry is set to ease going forward. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/9JG07mzvej\">https:\/\/t.co\/9JG07mzvej<\/a> (HT <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/knowledge_vital?ref_src=twsrc%5Etfw\">@knowledge_vital<\/a>) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/4RuFkAHqzn\">pic.twitter.com\/4RuFkAHqzn<\/a><\/p>\n<p>\u2014 Holger Zschaepitz (@Schuldensuehner) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Schuldensuehner\/status\/1519956808336646144?ref_src=twsrc%5Etfw\">April 29, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>European indices were flatter, with Germany\u2019s DAX up 1.2% and the FTSE 100 up 0.35% in London.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Research_warns_over_hodler_%E2%80%9Ccapitulation%E2%80%9D\"><\/span>Research warns over hodler &#8220;capitulation&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Examining who among Bitcoin holders is selling in current conditions, popular analyst Root identified changing tendencies among long-term holders (LTHs) \u2014 those with coins unmoved for 155 days or longer.<\/p>\n<p><strong><em>Related:\u00a0$27K &#8216;max pain&#8217; Bitcoin price is ultimate buy-the-dip opportunity, says research<\/em><\/strong><\/p>\n<p>Those who bought in between $18,000 and the all-time highs of $69,000 \u2014 a significant chunk of the LTH base \u2014 are being forced to exit due to external forces, he warned.<\/p>\n<p>\u201cThey are de-risking\/capitulating due to macro conditions,\u201d part of a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/therationalroot\/status\/1519946758226432005\/photo\/1\">Twitter thread<\/a> read, Root adding that it is \u201cbullish how price has been holding up really well.\u201d<\/p>\n<p>As Cointelegraph reported, the percentage of the BTC supply dormant for a year or more has nonetheless made new all-time highs this month, according to data from on-chain analytics firm Glassnode.<\/p>\n<p>Bitcoin (BTC) stayed rangebound on April 29 as a welcome retracement saw the U.S. dollar come down from 20-year highs.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/e246e4e2-44d8-47dd-8e8a-35b5aa8e7427.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin active supply chart. Source: Glassnode<\/em><\/figcaption><\/figure>\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-price-slow-to-react-as-us-dollar-rally-stops-at-20-year-highs\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin price slow to react as US dollar rally stops at 20-year highs &#8220; Bitcoin (BTC) stayed rangebound on April 29 as a welcome retracement saw the U.S. dollar come down from 20-year highs. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader eyes $40,600 as &#8220;crucial&#8221; breaker Data from Cointelegraph Markets Pro and TradingView&#8230;<\/p>\n","protected":false},"author":1,"featured_media":439273,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvMjRlMjcxZDQtNzUzMy00NjZlLWI4ODMtODM0NmZjMDM2ODJiLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-439272","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/439272","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=439272"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/439272\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/439273"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=439272"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=439272"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=439272"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}