In brief
- The U.S. dollar’s recent consolidation and potential breakout could trigger another potential top for Bitcoin.
- Analysts argue that institutional accumulation has fundamentally changed Bitcoin’s market structure.
- A 15% to 25% correction in Bitcoin is likely if the dollar index breaks out above 100, according to analysts.
A historical pattern linking U.S. dollar breakouts to Bitcoin market tops has pitted cyclical believers against institutional accumulators, leaving investors divided over Bitcoin’s short- to medium-term future.
As a result, investors are torn over what Bitcoin’s short to medium-term future holds.
On the one hand, Bitcoin OGs and whales, who believe in the crypto market’s four-year cycle, have resorted to selling their holdings and shorting.
Institutions, on the other
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Author: Akash Girimath
