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Bitcoin traders set 80K short-term price target as DXY hits new highs

The US dollar Index (DXY) reaching 109.37, a peak since November 2022, has heavily influenced crypto prices, including Bitcoin. As the Index strengthens, it causes crypto traders to revise their short-term price expectations. Rising US Treasury yields, notably the 10-year and 30-year notes, increase concern over prolonged inflation under Trump’s economic policies.

Bitcoin reached an intraday low of 92,500 USD, and analysts pointed out that if the 90,000 USD support level fails, prices might continue to fall. Analysts foresee a short-term bearish outlook if Bitcoin closes below 95,180 USD, possibly leading prices to drop to 81,000 USD in the next five weeks before an anticipated bullish recovery.

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