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Issue 41 – The US Dollar Still Matters

July 19, 2021


The DXY (US dollar index) is breaking out of a bullish pattern today, putting pressure on risk assets like stocks and cryptos.

At the same time, the S&P 500 is breaking down from a significant area.

What could all of this mean for the broader crypto market?

Today, I’ll explain how the US dollar influences risk assets like cryptos and what it could mean for the next few weeks. We’ll also revisit the S&P 500 chart given Monday’s -2% move.

Let’s get it!

Why The USD Matters

Many in the crypto industry hate on the US dollar. And I get it. In terms of inflation, it’s the opposite of Bitcoin, as are all fiat currencies.

However, like it or not, the US dollar is still king when it comes to fiat. It’s still the world’s reserve currency, which means its movement has reverberating effects.

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Justin Bennett

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About the Author

I'm Justin Bennett, a currency trader turned crypto enthusiast.

My journey started with stocks in 2002. After limited success, I transitioned to currencies in 2007, which later became a full time trading gig.

The journey continued, and in 2020, I committed to learning about cryptocurrencies. It was love at first sight.

Cryptocademy.com is the culmination of my love for cryptocurrencies, my passion for financial markets, and desire to learn and teach.

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