Which cryptocurrencies are most affected by changes in the US DXY?

3 answers

• Dec 16, 2021 · 3 years ago
  As an expert in the field of cryptocurrencies, I can tell you that the most affected cryptocurrencies by changes in the US DXY are usually the major ones such as Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP). These cryptocurrencies tend to have a higher correlation with the US Dollar due to their popularity and market capitalization. However, it's important to note that the impact of the US DXY on cryptocurrencies can vary depending on other factors such as global economic conditions and market sentiment.
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• Dec 16, 2021 · 3 years ago
  When it comes to the influence of the US DXY on cryptocurrencies, it's crucial to consider the overall market dynamics. While major cryptocurrencies like Bitcoin and Ethereum may experience some correlation with the US DXY, there are other factors at play as well. Factors such as market demand, technological advancements, and regulatory developments can also significantly impact the performance of cryptocurrencies. Therefore, it's advisable to analyze multiple factors and not solely rely on the US DXY when making investment decisions in the cryptocurrency market.
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• Dec 16, 2021 · 3 years ago
  According to research and analysis conducted by BYDFi, a leading cryptocurrency exchange, the cryptocurrencies most affected by changes in the US DXY are Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). These cryptocurrencies have shown a higher sensitivity to fluctuations in the US Dollar Index due to their widespread adoption and liquidity. However, it's important to note that the cryptocurrency market is highly volatile and influenced by various factors. Therefore, it's recommended to conduct thorough research and consult with financial advisors before making any investment decisions.
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