Ether is leading the crypto market's resilience, with Bitcoin holding above $63,000, amidst a cautious mood due to stalling AI stock rebound and a stronger dollar.
Bitcoin (BTC) dipped below $60,000 in Asian trading after the Japanese Yen plummeted to a 40-year low against the U.S. dollar, strengthening the greenback.
10x Research warns Bitcoin could drop to $55,000, citing a strengthening U.S. dollar and the Federal Reserve's hawkish stance under Kevin Warsh.
Gold's recent fall below its 200-day moving average amid a strong US dollar and rate hike expectations could signal a potential shift towards Bitcoin for some investors.
A prominent US lawmaker has voiced strong concerns that allowing government payments in stablecoins could foster tax evasion and undermine the dominance of the US dollar.
Bitcoin's recent dip to $67,000 is driving a significant capital shift into dollar-linked stablecoins as investors seek safety within the crypto market.
A European Central Bank official cautions that stablecoins may introduce traditional money-market risks into the digital finance landscape and bolster the US dollar's global influence.