DXY continues to dictate, disregarding fundamental, on-chain, and eg S2F.
Markets have traditionally been very tied to the DXY, as you can see, the DXY also played a huge role during the 2017/2018 crypto market top.
I believe we are seeing the same again. The DXY is rebounding, and the crypto and trad markets are showing signs of weakness on the fed's comments on tapering (not even rate hikes).
A clear sign for a rebound is the divergence in weekly MACD for DXY, which occurred last market top as well.
Markets have traditionally been very tied to the DXY, as you can see, the DXY also played a huge role during the 2017/2018 crypto market top.
I believe we are seeing the same again. The DXY is rebounding, and the crypto and trad markets are showing signs of weakness on the fed's comments on tapering (not even rate hikes).
A clear sign for a rebound is the divergence in weekly MACD for DXY, which occurred last market top as well.
