Bitcoin and gold are getting cheaper amid the strengthening of dollar


The US currency continues to strengthen. The dollar jumped last Friday, after the Federal Reserve published data on the decline in unemployment.

In addition, the regulator hinted that it is ready to raise the discount rate again to keep inflation down. The dollar index on Monday, October 10, strengthened to 113.13 points — this is the maximum value since the beginning of April 2002.

Gold and digital currencies, on the contrary, are getting cheaper. Stock markets in Asia and Europe also sank today. The correlation of bitcoin and gold is increasing.

According to the Kaiko platform, the interdependence of precious metals and BTC has grown to the highest level in 2022. The bitcoin exchange rate fell to $19,386, and a troy ounce of gold fell to $1,681.

Altcoins also incur losses. Ether (ETH) and Binance Coin (BNB) fell to $1,312 and $275 respectively. The capitalization of the crypto market decreased to $938.898 billion.

GlobalBlock analyst Marcus Sotiriou stressed that US employment data often negatively affects the attractiveness of risky assets. This week there will be figures on consumer prices.

Based on this information, it will be possible to predict the future course of the Federal Reserve and the activity of investors in the cryptosphere.

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