Bitcoin price clings to $38K, but Dollar Index bounce could put BTC under pressure

A recent run-down in the dollar index (DXY) stopped midway as investors awaited United States’ jobs data for a guide on the viewpoint for interest rates. Meanwhile, Bitcoin (BTC) moved inversely to the greenback.
DXY rose to its intraday high of 92.195 on Aug. 4, up 0.45% from its July 30 low of 91.

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3 reasons why Bitcoin can suddenly explode to a new $50K-$65K range

A combination of multiple indicators tracking Bitcoin (BTC) blockchain would continue the benchmark cryptocurrency’s price rally further into 2021, popular on-chain analyst Willy Woo anticipates.

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Bitcoin chart fractal suggests BTC price will rally to at least $80K by September

While Bitcoin’s (BTC) price has slipped by more than 8.2% after rising to $42,230, the 43.5% rally included 10 consecutive days of gains. But despite BTC currently trading at around $39,700 as of Aug. 2, some analysts anticipate that it can rise by another 100%.

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Bitcoin accumulation accelerates among ‘whales’ and ‘fish’ with BTC rallying to $40K

Both small and rich Bitcoin (BTC) traders accumulated the benchmark cryptocurrency en masse during the period its prices rose from below $30,000 to over $40,000, signaling their confidence in the asset’s long-term bullish setup.

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