Bitcoin (BTC) reacted to renewed strength in the US dollar on September 21, after the bearish stock price and moved from $ 11,000.
DXY Rise lowers Bitcoin price
Data from Coin360 and Cointelegraph Markets showed that BTC / USD hit $ 10,570 on Monday, the lowest level in a week.
There was a rejection of $ 11,200 resistance on Sunday, when bitcoin then fell almost 3% during the day when the general markets hesitated in the open. At the time of publication, the BTC / USD exchange rate is hovering just above $ 10,600.
As the Cointelegraph reported, a combination of factors – coronavirus, the central bank’s economic policy and a separate scandal involving large institutions – is creating uncertainty this week.
The $ 11,200 drop was expected by Cointelegraph Markets analyst Michael Van de Pope, who warned that Bitcoin would hardly find the strength to reverse its previous level of support and resistance.
Meanwhile, the DXY 93 surpassed the mark on Monday, with a similar fall in bitcoin, signaling a continuation of the reverse correlation.