false

Quick Take

• The Dollar Index (DXY) continues rising, hitting 104.11, up 2.80% in the past month.
• However, Bitcoin’s negative DXY correlation persists, with the former sinking as low as $25,800 on Thursday.
• In the past 24 hours, total liquidations reached $120 million, mainly on longs.
• Further rate hikes may be on the cards – with predictions for a 25bps rate hike now coming in at 31% – with only one rate cut factored in for the rest of the year.
• The next FOMC meeting is 20 days away.

BTC&DXY: (Source: TV)

Liquidations: (Source: Coinglass)

Fed Probabilities: (Source: CME)

The post Bitcoin tumbled below $26K, causing a $120M liquidation storm appeared first on CryptoSlate.