{"id":472905,"date":"2022-07-11T19:35:32","date_gmt":"2022-07-11T16:35:32","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-risks-new-lows-as-20k-looms-amid-dollar-euro-parity\/"},"modified":"2022-07-11T19:35:32","modified_gmt":"2022-07-11T16:35:32","slug":"bitcoin-risks-new-lows-as-20k-looms-amid-dollar-euro-parity","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-risks-new-lows-as-20k-looms-amid-dollar-euro-parity\/","title":{"rendered":"# Bitcoin risks new lows as $20K looms amid dollar euro parity"},"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-6a40b61a68e72\" 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-6a40b61a68e72\" 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-risks-new-lows-as-20k-looms-amid-dollar-euro-parity\/#%E2%80%9D_Bitcoin_risks_new_lows_as_20K_looms_amid_dollar_euro_parity_%E2%80%9C\" >&#8221; Bitcoin risks new lows as $20K looms amid dollar euro parity &#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-risks-new-lows-as-20k-looms-amid-dollar-euro-parity\/#20300_eyed_as_next_support_zone_to_hold\" >$20,300 eyed as next support zone to hold<\/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-risks-new-lows-as-20k-looms-amid-dollar-euro-parity\/#Hayes_sees_start_of_fiat_%E2%80%9Cdoom_loop%E2%80%9D\" >Hayes sees start of fiat &#8220;doom loop&#8221;<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_risks_new_lows_as_20K_looms_amid_dollar_euro_parity_%E2%80%9C\"><\/span>&#8221; Bitcoin risks new lows as $20K looms amid dollar euro parity &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Bitcoin (BTC) headed for $20,000 after the July 11 Wall Street open amid fresh warnings to \u201cprepare for new lows.\u201d<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-07\/5972779e-759c-4be5-982a-514816121d38.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=\"20300_eyed_as_next_support_zone_to_hold\"><\/span>$20,300 eyed as next support zone to hold<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 failing to recover losses that had im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tely followed the weekly close at $20,850. <\/p>\n<p>The pair had nonetheless locked in its best week\u2019s gains since March, these nonetheless apt to unravel as market uncertainty lingered.<\/p>\n<p>For on-chain analytics resource Material Indicators, the level to watch was a trendline acting as support since June.<\/p>\n<p>\u201cBTC fell back below the 21-ay Moving Average after the Sunday close,\u201d it <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MI_Algos\/status\/1546489781609238539\/photo\/1\">wrote<\/a> in a summation-like\u00a0Twitter post alongside a heatmap of buy and sell interest on major exchange Binance.<\/p>\n<blockquote><p>\u201cFireCharts shows some bid liquidity in close range, but it may not be enough. If price falls below the trend line, prepare for new lows.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-07\/cc46852a-9065-4df9-909e-cb41a6643971.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD order book data (Binance) with trend line. Source: Material Indicators\/ Twitter<\/em><\/figcaption><\/figure>\n<p>Others predictably focused on the July 13 United States Consumer Price Index (CPI) data release, this tipped to spark downside across risk assets should June\u2019s inflation significantly outpace estimates.<\/p>\n<p>Blockware analyst Joe Burnett additionally highlighted the potential for miners, already facing tight margins, to capitulate more heavily should BTC price action beat its prior lows.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">32 days since the start of Bitcoin&#8217;s miner capitulation.<\/p>\n<p>If CPI comes in hot, US equities make new lows, and Bitcoin drops sharply below $20k, get ready for the next wave of capitulations. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/pKfchsILmf\">pic.twitter.com\/pKfchsILmf<\/a><\/p>\n<p>\u2014 Joe Burnett ()\u00b3 (@IIICapital) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/IIICapital\/status\/1546512646492520448?ref_src=twsrc%5Etfw\">July 11, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&#8220;Crucial support now around $20.3K. Has to hold and, if the markets does, new highs pos,&#8221; Cointelegraph contributor Micha\u00ebl van de Poppe nonetheless <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1546424656164421638\">countered<\/a>.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Hayes_sees_start_of_fiat_%E2%80%9Cdoom_loop%E2%80%9D\"><\/span>Hayes sees start of fiat &#8220;doom loop&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Macro takes were hardly any more optimistic. For Arthur Hayes, former CEO of derivatives trading platform BitMEX, confirmation was in that at least the U.S. dollar and the euro were beginning a \u201cdoom loop\u201d to oblivion thanks to hitting parity.<\/p>\n<p><strong><em>Related:\u00a0US inflation data will be \u2018messy\u2019 \u2014 5 things to know in Bitcoin this week<\/em><\/strong><\/p>\n<p>Central banks would now have no option but to adopt yield curve control (YCC), sparking the disintegration of the currency which could ultimately leave Bitcoin on top as the new global standard \u2014 a prediction previously laid out in a blog post in April.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/DoomLoop?src=hash&amp;ref_src=twsrc%5Etfw\">#DoomLoop<\/a> has begun. 1 USD = 1 EUR. Prepare yourselves for YCC and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> = $1 million. But please be patient, these things take time. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/mR8SsBx0fv\">pic.twitter.com\/mR8SsBx0fv<\/a><\/p>\n<p>\u2014 Arthur Hayes (@CryptoHayes) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoHayes\/status\/1546505432386211840?ref_src=twsrc%5Etfw\">July 11, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>\u201c$1 = 1\u20ac. Foreign currencies crashing against the dollar. And US dollar losing purchasing power fast (CPI est. 8.8%),\u201d PlanB, creator of the Stock-to-Flow Bitcoin price models, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/100trillionUSD\/status\/1546493296662519811\">added<\/a>. <\/p>\n<blockquote><p>\u201cWhen money dies .. again.\u201d<\/p><\/blockquote>\n<p>The U.S. dollar index (DXY) continued its unrelenting surge higher on the day as the European gas crisis pressured the euro, hitting nearly 108.2 \u2014 a new twenty-year high.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-07\/e9345b3b-de43-4465-9176-379baaa4d587.png\"><figcaption style=\"text-align: center;\"><em>U.S. dollar Index (DXY) 1-month candle chart. Source: TradingView<\/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-risks-new-lows-as-20k-looms-amid-dollar-euro-parity\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin risks new lows as $20K looms amid dollar euro parity &#8220; Bitcoin (BTC) headed for $20,000 after the July 11 Wall Street open amid fresh warnings to \u201cprepare for new lows.\u201d BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView $20,300 eyed as next support zone to hold Data from Cointelegraph Markets Pro and TradingView&#8230;<\/p>\n","protected":false},"author":1,"featured_media":472906,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvNjEzMTk3NWEtNDM5MC00ODc4LWIzYzQtNWQ5MTkxMTlmMmQ2LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,76153,75604,73785,68637],"class_list":["post-472905","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-dollar","tag-euro","tag-markets","tag-predictions"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/472905","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=472905"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/472905\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/472906"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=472905"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=472905"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=472905"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}