With the Dollar Index (DXY) rising above 92,500 levels during the day, Bitcoin fell by about $ 2500 during the day, reaching as high as $ 57,200.
With this decrease, withdrawals were also seen in altcoins. It retraced to $ 1625 levels on Etherem, the largest altcoin.
Although DXY has not broken its 200-day average for now, it remains above a significant fibo level. The sharp movements in the dollar index may cause the products priced against the dollar to pull back a little more. DXY’s rejection at this level can ease Bitcoin.
Meanwhile, the Ethereum analysis from the analyst named Altcoin Sherpa drew attention.
The analyst pointed to the spring, thinking that Ethereum will make another upward run according to its historical cycles.
Commenting on the ETH / BTC pair according to the cycle that is repeated 3 times, the analyst thinks that Ethereum will enter the yellow zone, which is the bullish zone, by April.
The analyst states that after April, the ETH / BTC parity will bleed again with the summer.
* Not Investment Advice.