Bitcoin remains at $20,000 despite dollar weakness

Bitcoin reaches the $20,000 mark and benefits from the devaluation of the dollar.

Bitcoin rose 3.14% this morning to $20,189.21.

The dollar index against the six major currencies in a basket of currencies fell 1.5% to 110.0690, while the yield on the 10-year U.S. Treasury bond fell to 3.581%.

Bitcoin continues to hover around the $20,000 mark and has been unable to show an upward trend since the Fed began raising interest rates.

The CME Group’s FedWatch Tool indicates that investors are 58.5% confident that the Fed will raise rates by 0.75% to between 3.75% and 4.00% at its November 1-2 meeting.

The Spot Market is Open

Wednesday, October 5, 2022

Crypto
Updated at
USD
Price

Change

%Change
10.20 BTC20,228.37+295.71+1.43
10.20 ETH1,358.08+10.71+0.79
10.20 LTC55.02+0.27+0.49
10.20 BNB295.30+3.72+1.28
10.20 XRP0.47+0.01+1.26
10.20 ADA0.43+0.00+0.42
10.20 DOT6.43-0.02-0.34
10.20 DOGE0.06+0.00+7.11
10.20 UNI6.65-0.10-1.48
10.20 LINK7.76+0.06+0.79

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