US Dollar Soars to Highest Level in 20 Years

US Dollar Soars to Highest Level in 20 Years, Bitcoin (BTC) Alert Issued

– A crypto analyst who continues to build a following with his timely Bitcoin calls is issuing an alert for BTC holders as the US dollar erupts to a level not seen in two decades.

– Cryptocurrency strategist Kevin Svenson tells his 113,500 Twitter followers that Bitcoin recently broke below its diagonal support that has kept BTC afloat since the June 2022 lows of around $17,600.

– Svenson’s bearish view on Bitcoin comes as he believes the US dollar index (DXY), which tracks the value of the US dollar relative to a basket of fiat currencies, is still in a strong uptrend.

– In a new strategy session, the crypto analyst says the DXY appears to have more gas left in its tank even after rising over 15% this year.

– A surging DXY suggests that investors are selling risk-on assets like Bitcoin and crypto and seeking the safe-haven status of the US dollar.

btc as US Dollar US Dollar Soars to Highest Level in 20 Years, Bitcoin (BTC) Alert Issued

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