Bitcoin (BTC) saw the return of US selling pressure at the March 26 Wall Street open as analysis eyed a “key shift in market structure.”
BTC/USD 1-hour chart. Source: Cointelegraph/TradingView
Bitcoin sees classic US dip as dollar gains
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD heading below $87,000.
The pair had enjoyed support through the day’s Asia trading session, but the start of US hours triggered a familiar downward reversal.
Bitcoin copied US stocks’ lack of momentum, with the S&P 500 and Nasdaq Composite Index both heading lower at the open.
The US dollar index (DXY), traditionally inversely correlated with BTC/USD, conversely nudged three-week highs of 104.46.
US dollar index (DXY) 4-hour chart. Source: Cointelegraph/TradingView
Commenting on the current risk-asset landscape, trading firm QCP Capital retained emphasis on US President Donald Trump’s trade tariffs ahead of