DXY Drop and Fed Soft Talk Gari Bitcoin Rally
Federal Reserve minutes wey dem release for July 10 show say dem dey soft, e increase chance say dem go cut interest rate for September. US Dollar Index (DXY) drop reach three years low for around 97–98 and e don fall 6.5 points under im 200-day moving average after US debt pass $36.5 trillion—this na the biggest difference in 21 years. Normally, when DXY weak, e dey make capital move go risk assets like Bitcoin, wey recently hit record high around $112,000. Bitcoin now dey trade near $109,500, about 2.2% below im all time peak, after e break one bullish flag pattern. But on-chain signals—negative Apparent Demand and possible NVT Golden Cross top—warn say short term exhaustion fit happen. Traders suppose remain bullish on Bitcoin before the expected rate cuts but dem suppose also watch out for mean reversion and market balancing risks.
Bullish
Di dovish Federal Reserve minutes and di record US debt don make di US Dollar Index drop to lowest point for years, wey dey usually cause capital to flow enter risk-on assets like Bitcoin. Bitcoin recent breakout pass one bullish flag and record highs show say e get strong upward momentum, wey people expect say rate go cut for September. Short-term on-chain indicators dey show say e fit tire, meaning say volatility or small pullback fit happen. But di main things wey dey drive am—Fed policy wey dey ease and steady weakness for DXY—show say di outlook remain bullish for both short-term trading chances and long-term price increase.