US Dollar Index (DXY) Plunge Pushes Bitcoin to $115,000 as Fed Rate-Cut Speculation Heats Up

DXY fell to 98.50 after weak jobs data and political turmoil intensified Fed rate-cut expectations. Bitcoin rebounded to $115,000, approaching EMA resistance, with RSI recovery signaling improved momentum. Crypto markets strengthened as dollar weakness increased speculation of further monetary easing and Fed-driven liquidity support. The U.S. Dollar Index (DXY) is sliding hard, dropping to around 98.50 after a disastrous jobs report and a political shake-up in Washington have traders convinced that Federal Reserve rate cuts are coming soon. The weak dollar has provided a direct boost to Bitcoin, which is now attempting to reclaim the key $115,000 level. The dollar’s sell-off was kicked into high gear by the July nonfarm payrolls report, which showed just 73,000 jobs were added; well below forecasts. Making matters worse, the previous two months’ figures were revised down by a massive 258,000 jobs. The sell-off deepened following President Trump’s dismissal of Bureau of Labor Statistics Commissioner Erika McEntarfer and the unexpected resignation of Fed Governor Adriana Kugler. Related: Trump to Name New Fed Governor After Kugler Resigns; BLS Head is… The post US Dollar Index (DXY) Plunge Pushes Bitcoin to $115,000 as Fed Rate-Cut Speculation Heats Up appeared first on Coin Edition .

Source: Coin Edition