Check why Crypto Prices Fluctuate – Which Coins to Consider in the Dip
Join Our Telegram channel to stay up to date on breaking news coverage The Fed (Federal Reserve) maintains its financial tightening policy in the face of consistently rising inflation within the US. Another 75 basis point increase in interest rates was announced this month. The Fed’s actions, as well as the global macroeconomic environment, promote the strengthening of the US currency and the DXY index, which reflects its strength. The DXY index gauges the value of the US dollar in relation to a composite of six major currencies. The Canadian dollar, Japanese yen, Euro, British Pound, Swiss Franc and Swedish Krona are among them. A figure of 120, for example, indicates that the US dollar has gained 20% versus a group of currencies during a specific time period. In other words, a rising DXY suggests the USD is getting stronger or worth compared to other currencies. About Cryptocurrencies Bitcoin’s worth has dipped by approximately 70% since its all-time peak last ye...