🔥Macro market analysis:
The US dollar index surged, and the cryptocurrency circle pulled back📉
The highest of the US dollar index has broken through 107. This kind of strong surge in the US dollar index means that the US dollar has appreciated against all currencies in the world. In other words, all other currencies in the world have been slaughtered by the US dollar. To some extent, it can also explain why the A-share market has continued to experience a pullback in the past two days. $BTC
Friends in the cryptocurrency circle don’t care much about the A-share market, so let’s get back to the topic of cryptocurrency. Bitcoin started to pull back after it surged to 93,300. After several long and short shocks, the current price has reached 87,400. The cryptocurrency circle is now polarized. The pullback of Bitcoin and the crazy meme is healthy, but the pullbacks encountered by other cottages may not be so healthy. The ETH/BTC exchange rate has hit a new low again, which also means that the previous outbreak of ETH has not deviated from the inertia brought by the surge in Bitcoin. With the pullback of BTC, the pullback of ETH will only be stronger.
BTC’s market panic greed index has reached 80. From this perspective, the market is still looking forward to BTC’s surge. As ordinary investors, we should believe that the correction will continue for some time. Again, at this time, we should grasp the chips in our hands and cherish them. It is not the time to make profits yet. December is still a good month for highs.
For retail investors, if there are still spare positions in hand, you can plan and gradually increase your positions when the correction is deeper.
