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Bitcoin Bulls Beware: Dollar Index’s ’Death Cross’ Signals Storm Ahead

Bitcoin Bulls Beware: Dollar Index’s ’Death Cross’ Signals Storm Ahead

Author:
CoindeskEN
Published:
2025-07-02 11:22:16
12
2

Bitcoin's rally faces a critical test as the dollar flexes its muscles. The DXY's ominous 'death cross' pattern—a technical red flag—could spell trouble for crypto's high-flying asset.

Market psychology turns fragile when these chart patterns emerge. And let's be honest—when has Wall Street ever missed a chance to spook retail investors?

Key levels to watch: Bitcoin's $60K support holds the line...for now. Break below that, and the 'buy the dip' crowd might need stronger stomachs.

Remember: In crypto, even 'death crosses' get resurrected—usually right after the last paper hands sell. Just another day in the casino.

Dollar Index's weekly chart. (TradingView/CoinDesk)

The last one occurred in January 2021, marking the bottom at around 90. The dollar caught the bid in the subsequent months, with the index eventually hitting a high of over 114.00 in September 2022.

Note that price patterns do not always unfold as expected, meaning the impending death cross may not necessarily trap bears; however, being aware of its past tendency can help traders manage their positions more effectively.

The dollar index, which tracks the greenback's value against major fiat currencies, tanked by 10.78% in the first half of the year, its worst performance since 1991.

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