The Dollar Index disconnect from Bitcoin does not necessarily mean that BTC price is about to experience a big rally, historic data suggests. There is a common belief that when the U.S. dollar declines relative to other main global currencies, as measured by the Dollar Strength Index (DXY), the impact on Bitcoin (BTC) is positive,…
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From the latter half of 2022 and continuing into 2023, the concept of de-dollarization has gained significant traction, making its mark on the mainstream media. This surge in attention can be attributed to the concerted efforts of BRICS countries such as Brazil, China, and Russia, who are endeavoring to diminish the dominance of the greenback,…
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The U.S. subsidiary of the world’s largest crypto exchange, Binance, announced it has resolved the issues with U.S. dollar (USD) withdrawals. The trading platform, which recently averted an asset freeze sought by the United States Securities and Exchange Commission (SEC), informed customers, however, that withdrawal services are likely to be discontinued again. Binance US May…
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Former Chief Tech Officer at Coinbase, Balaji Srinivasan, took to Twitter to remind his followers about Jared Bernstein’s earlier stance on de-dollarization. The angel investor sees logic in views that the new White House top economist has now abandoned, on the U.S. dollar’s status as a global reserve currency . Not a Bitcoin Maximalist —…
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The government of Argentina has noted that 19% of all imports authorized in the national system were settled using the Chinese yuan in April and May. $2.72 billion in Chinese yuan were approved to complete these payments, taking advantage of the Chinese swap line to preserve the dollar reserves of the country, according to Commerce…
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In our latest Cointelegraph Report, we analyze the causes leading to the decline of the U.S. dollar as the world reserve currency and its potential implications. De-dollarization, the decline of the United States dollar as the world’s dominant reserved currency, is underway, and it’s gaining momentum. For over 100 years, the U.S. dollar has been…
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Russian Finance Minister Anton Siluanov has given his opinion on the perceived attack the Russian economy has been receiving from the U.S. dollar, and how the country has moved to keep trade going. Siluanov also remarked on the importance of developing settlements in national currencies. Russian Finance Minister Anton Siluanov: ‘The Dollar Has Challenged Russia’…
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Bitcoin analysts are gearing up for a break toward the $30,000 mark, but what will BTC price action offer in the coming days? Bitcoin (BTC) starts the second week of June in familiar territory, but a breakout is coming, investors say. After a calm weekly close, BTC/USD is firmly in its established trading range, while…
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The regulatory environment in the U.S. doesn’t look good for crypto but the United States has the potential to lead again, according to Binance CEO Changpeng Zhao (CZ). The founder of the world’s largest digital asset exchange is convinced stablecoins can increase use cases for the U.S. dollar and praises the pro-crypto stance of Republican…
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Trading within a Russia-led regional organization has effectively moved away from the U.S. dollar, according to the deputy head of the Russian government. The use of national currencies in the bloc’s transactions has reached around 90%, the official pointed out. EAEU Replaces Dollar in Trade With National Currencies, Russian Official Says Trade between member states…
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