Bitcoin price tops $88.5K as BTC doubles down on stocks decoupling

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Source: Cointelegraph/TradingViewKobeissi also referenced downside pressure on the US Dollar Index (DXY), which traded at its lowest levels since March 2022.“While the USD, DXY, falls to a new 52-week low below 99, Bitcoin and Gold are surging,” it summarized. “Markets need trade deals ASAP.”US dollar index (DXY) vs.BTC/USD chart.

Related: US dollar goes ‘no-bid’ — 5 things to know in Bitcoin this weekBitcoin, it argued in its latest bulletin to Telegram channel subscribers, seemed to be sharing some of gold’s limelight as a hedge against macroeconomic uncertainty after months of failure.“With equities finishing last week in the red and extending an April drawdown, the narrative of BTC as a safe haven or inflation hedge is once again gaining traction.

Nvidia, NVDA, is down over -15% since last Monday while multiple other Mag 7 stocks are down 10%+,” trading resource The Kobeissi Letter wrote in part of a reaction thread on X. “Without technology stocks, this market cannot bottom.”S&P 500 1-hour chart.

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Article Details

Author / Journalist: Cointelegraph by William Suberg

Category: Crypto

Markets: United StatesChinaJapan

Topics: Trade Chart Dollar Last Gold Btc/usd Stocks Price Trading Markets Bitcoin

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-21 @ 16:23:48 (2 weeks ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 504 words

Reading Time: 3 minutes read

Sentences: 19 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 28103430

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