Bitwise Analyst: A Strong Dollar May Hinder BTC from Breaking $100,000

ChainCatcher news, according to The Block, Bitcoin's price is nearing $100,000, but Bitwise's Head of Research for Europe, André Dragosch, warns that a stronger dollar may pose resistance to further increases in Bitcoin.

He pointed out that historical data shows Bitcoin typically performs poorly during periods of dollar appreciation, and a stronger dollar often means tighter global liquidity, which could negatively impact Bitcoin's short-term trend.

In addition, expectations that the Bank of Japan (BoJ) may raise interest rates in December have also raised market concerns. Analysts believe that expectations of yen interest rate hikes could lead to "yen carry trade" unwinding pressure, resulting in volatility for risk assets, including Bitcoin. The recent rise in Tokyo's consumer price index further supports this view, as BoJ Governor Kazuo Ueda stated that the Japanese economy is moving towards wage-driven sustained inflation.