It seems that the DXY is going to plunge.
I think there is only one path left for the DXY(Dollar index). Because, the DXY is about to interest rate cuts.
The next interest rate decision is 4 weeks left. I hope that it will be a Big Cut. Market participants anticipate that there will be 3 interest cuts this year.
Let's take a look at the first picture again. In 2020, there's a recession due to the COVID-19. Then, the Fed immediately started the rate cuts. What happened for the DXY during that period? The DXY had plunged, and the crypto market had been huge bullish. Will the history repeat again? 🤔 I think so 🤭
"Great analysis! 📊👍 I'm curious to know if you think the upcoming rate cuts will have a similar effect on the crypto market as they did in 2020? 💡 Would love to hear more thoughts and discuss this further with fellow Steemians!"
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