“The president said he isn’t concerned about the dollar’s recent declines, sending the greenback plunging even lower.”, — write: www.coindesk.com
Speaking to reporters ahead of a scheduled speech in Iowa, the president said the dollar is doing great and that he wasn’t concerned about the greenback’s recent declines.
Already falling over the past week and down sharply again on Tuesday, the US dollar index (DXY) tumbled further following the president’s comments to 95.80, its weakest level in about 4 years.
After languishing below $88,000 during most of the session, bitcoin advanced to $89,300, up 2.2% over the past 24 hours. Ethereum’s ether ETH$2,929.56 bounced above $3,000, higher by 3.9%.
In the middle of a pause following its breathtaking rally above $5,000 per ounce, gold resumed its move higher on the weaker dollar, pushing to a new record of $5,215, up 1.8% for the session.
Read more: Bitcoin miners surge higher as Anthropic’s fundraising efforts boost AI spirits
BTC bounce to $95,000?While crypto’s short-term outlook remains challenged, some technical analysts see signs of an incoming reversal.
According to Bitcoin Vector, the research service from Swissblock and well-known analyst Willy Woo, a significant bullish divergence is forming between bitcoin’s price and its RSI momentum indicator. Similar setups have historically yielded returns of around 10%, the team noted.
“We are likely at the genesis of a major bullish reversal,” said Bitcoin Vector. “A return to $95,000 is looking likely.”
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Anthropic is set to raise $20 billion in its latest funding round, double the amount it initially targeted, according to the FT.
- Anthropic, the maker of the Claude chatbot, is set to raise about $20 billion in new funding at a valuation of $350 billion, according to the Financial Times.
- That’s double the amount the company initially sought to raise.
- The news is boosting spirits in the AI sector, with bitcoin miners turned AI infrastructure providers like IREN, TeraWulf, Cipher Mining and Hut 8 surging higher.
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