Bitcoin faces fresh pressure as US dollar crushes gold, risk assets

By sayyad

sportstown FC

Data from various platforms is showing a retreat to $19,281 on Bitstamp as the Independence Day long weekend concluded with a bump.

The pair had witnessed last-minute yields the day before.

Bitcoin traded down $1,000, while spot gold tumbled over 2% and U.S. equities markets also fell.

The S&P 500 was down by 2.2%, while the Nasdaq Composite Index tumbled 1.7%.

The U.S. dollar index, on the contrary, hit 106.59, a level not seen in two decades.

Bitcoin analysts waited for indications of a trend turnaround to give relief to crypto markets.

Euro hitting record levels, $1.033 at the present.

Caleb Franzen pointed to how the DXY shed light on investor sentiment over the situation of the economy.

"Over the past week, the dollar is continuously rising.

This confirms that investors are rushing to safety, with high fears of recession.