Digital asset manager CoinShares says Bitcoin (BTC) is not likely to see a big impulse to the upside for at least the remainder of this year.
In a new bi-weekly report, CoinShares says that the US dollar index (DXY), which pits the USD against a basket of other fiat currencies, may have more gas left in the tank of its multi-month rally.
A high DXY usually implies downward pressure on most risk assets like Bitcoin.
“The DXY looks overpriced but could appreciate further in the near-term while the prospect for a recession is far from conclusive. It looks as if the monetary policy terminal rate (according to consensus) will peak in the US before it does in its key trading partners, this coupled with the