The US dollar index (DXY) is experiencing one of its largest weekly declines since 2013, fuelling optimism for a potential rally among risk-on assets, including Bitcoin (BTC). The last time the DXY saw such a sharp pullback was during the height of the FTX fiasco in November 2022, which coincided with a Bitcoin bottom.
Bitcoin price started another increase above the $70,000 resistance. BTC cleared $72,000 and now the bulls seem to be aiming for a move toward $75,000.
Ethereum price is still struggling to clear the $4,000 resistance zone. ETH might consolidate for some time above $3,600 before the bulls gain strength.
Chainlink’s LINK price is moving higher above the $20.00 resistance. The price is now up over 5% and might aim for a move toward the $25.00 resistance.