Daily Market Updates: Bitcoin faces headwinds as the U.S. dollar hits an 18-month high

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Bitcoin faces headwinds as the U.S. dollar hits an 18-month high

CoinDesk links the pressure on crypto to a stronger U.S. dollar and higher bond yields, alongside fiscal concerns in France and political uncertainty in Spain weighing on the euro.

Reported · Written up by our desk · Market Structure

A stronger U.S. dollar that reached an 18-month high is creating potential headwinds for Bitcoin, according to CoinDesk.

The outlet points to rising bond yields as an additional drag, while also citing broader pressure on the euro tied to fiscal concerns in France and political uncertainty in Spain.

Taken together, CoinDesk says the currency and rates backdrop is testing Bitcoin’s resilience.

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CoinDeskBitcoin resilience tested as U.S. dollar climbs to 18-month high

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Bitcoin faces headwinds as the U.S. dollar hits an 18-month high

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