A rare dip in US stocks, bonds, and the dollar simultaneously in a "three black crows" situation, the dollar was massively sold off, the dollar index continues to reach new lows, falling below 98, Bitcoin showed a rise. The euro even increased by 2%, the dollar against the yen briefly fell below 140 points, gold tested a historical high of 3500 per ounce. This rise may be incomprehensible to most people from the cryptocurrency world, as there were no particularly obvious favorable news in the market; so why did the market rise? In fact, today's rise in the crypto market is directly related to the dollar index.

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Bitcoin's price has currently reached its high at 88862 pips and continues to be at a high accumulation level. However, U.S. stock market futures such as the S&P and Nasdaq are down more than 1%, and U.S. government bond yields are also rising, indicating that traditional markets remain concerned about economic concerns. The Federal Reserve has not yet made any announcements, monetary policy remains tight, and interest rates are still high. In the end, the policy is at an impasse: if rates are cut in advance, it will increase market expectations of an "economic downturn"; If rates are not cut, it will mean that liquidity conditions remain tight. Therefore, it is still difficult for the market to expect a complete reversal of the trend, in the short term it is still in the stage of structural correction, waiting for the release of data. The real direction signal is likely to become clearer only after the release of US GDP and economic guidance data later this month!
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Judging by the short-term current market, the general trend has led to a peak pullback after strong growth, and the daily pattern has entered the stage of correction and correction. However, the overall technical structure has not changed much. Despite the fact that the price of the currency received a slight correction during the day, it did not have much impact on the market as a whole and did not break the recent uptrend. The current correction did not give a significant break, as it could not continue the decline, then the decline is expected to continue, because in the near future the general trend is still in an uptrend. The current correction is simply a corrective action, the higher it rises, the weaker the momentum of the correction, the greater the amplitude of the uptrend, and the operation is still mostly low.