Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Crypto Traders Bet on Weakened US Dollar and Bitcoin Rally, Despite Banks' Forecasts

Crypto Traders Bet on Weakened US Dollar and Bitcoin Rally, Despite Banks' Forecasts

CointimeCointime2024/04/24 08:31
By:Cointime

Despite some banks predicting continued strength for the US dollar, crypto traders are optimistic about a weakened dollar and a potential bitcoin rally. The recent decline of the Dollar Index (DXY) has given hope to crypto bulls, who believe that a weaker dollar would encourage risk-taking and extend the bitcoin rally. However, Societe Generale and Scotiabank expect the dollar to remain strong due to divergent interest rate expectations, while Barclays suggests that a potential escalation of the trade war between the US and China could benefit the dollar. If Donald Trump were to impose a 60% tariff rate on Chinese imports, it could potentially increase the value of the dollar, but the impact on foreign exchange rates would depend on the specifics of the proposal, according to Barclays' FX strategy team.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like