The U.S. dollar index negatively correlates with traditional stocks and the cryptocurrency market. If the DXY has indeed already reached the macro top of this cycle, it is likely that Bitcoin has already recorded or is close to the macro bottom of an ongoing bear market.
The latest economic data from the United States shows that inflation in October 2022 fell more sharply than expected. This gives hope for U.S. consumers and is good news for the Federal Reserve (Fed), which has been trying to lower the Consumer Price Index (CPI) for months.
The U.S. CPI came in at 7.7% in October. This is 0.2% lower than the analysts’ consensus expectation of 7.9%. Moreover, it is significantly lower than the September 2022 inflation rate of 8.2%.On the long-term chart, we can see that the likely peak of inflation in the U.S. was in June 2022, when the CPI was 9.1%. It has been falling ever since, and it is possible that this trend will…
