The US dollar has surged to its strongest levels in years, fueled by optimism surrounding Donald Trump’s return to the presidency.
Over the past year, the dollar has gained ground against major global currencies thanks to a rally fueled by the Federal Reserve rate cuts and the economic challenges of other countries, such as Japan.
Historically, such dollar dominance poses challenges for risk assets like Bitcoin, but the narrative is different this time. The president’s vocal support for the top crypto has created an unusual dynamic that has sparked a sharp rise in Bitcoin’s value since his re-election.
Bitcoin analyst Joe Consorti stated that the flagship digital asset is navigating its longest stretch of dollar strength in over two years.
According to him, historical trends suggest caution as Bitcoin’s value dropped by 25% during the last comparable dollar rally. So far, it has corrected 15%, with potential for further declines as dollar momentum continues.
However, optimism persists among industry leaders. CryptoQuant CEO Ki Young Ju pointed out that the Trump administration could usher in a pro-crypto era that would reduce regulatory risks and increase institutional interest, which might drive greater adoption of Bitcoin, stablecoins, and other digital assets.
The post Bitcoin to battle dollar strength amid Donald Trump’s crypto-friendly policies appeared first on CryptoSlate.
The US dollar has surged to its strongest levels in years, fueled by optimism surrounding Donald Trump’s return to the presidency. Over the past year, the dollar has gained ground against major global currencies thanks to a rally fueled by the Federal Reserve rate cuts and the economic challenges of other countries, such as Japan.
The post Bitcoin to battle dollar strength amid Donald Trump’s crypto-friendly policies appeared first on CryptoSlate.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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