According to Michaël van de Poppe (@CryptoMichNL), monitoring the FED's intentions in the coming months is crucial for cryptocurrency traders. While a rate cut is not expected, any indication of ending Quantitative Tightening (QT) or initiating Quantitative Easing (QE) or rate cuts within the next 2-3 months could lead to significant movements in Bitcoin and Altcoins. The current state of the Dollar Index ($DXY) is also a factor to consider.

According to The Kobeissi Letter, the US Dollar Index ($DXY) fell by 3.5% last week, marking the second-largest drop since the 2020 pandemic. This decline positions the index for its third consecutive monthly decrease, primarily due to the Euro's 4.7% strengthening.

According to MilkRoadDaily, the $DXY has experienced its sharpest decline since July 2023, indicating a weakening dollar. This trend is significant for traders as a weaker dollar typically fuels liquidity, potentially pushing risk assets higher. This could present trading opportunities in markets sensitive to dollar strength.

According to Michaël van de Poppe, government bond yields have hit new lows, and the $DXY index is starting to turn. In the cryptocurrency market, $ETH is experiencing an upward trend, while $ONDO has announced the tokenization of ETFs, which could lead to increased trading volumes and interest in tokenized securities. Traders might consider maintaining their positions given these developments. Source: Michaël van de Poppe on Twitter.

According to Michaël van de Poppe, a notable figure in cryptocurrency analysis, Bitcoin is unlikely to experience a heavy sell-off; instead, a slight correction may occur. He highlights that the U.S. Dollar Index ($DXY) is down 1%, and predicts a collapse in yields, which could serve as a catalyst for altcoins to gain momentum, independent of external financial agreements. These movements are crucial for traders focusing on altcoin opportunities. Source: Michaël van de Poppe (@CryptoMichNL).

According to Michaël van de Poppe, the Core CPI was slightly lower than expected, following a significantly lower than expected PPI. This has resulted in weakness in yields and the US Dollar Index ($DXY), while cryptocurrencies continue to show strength.

According to CryptoMichNL, the latest job openings report revealed a figure of 7.67 million, falling short of the expected 8.10 million and marking the worst report since April 2021. This has led to a substantial drop in interest rates and a weakened $DXY index. Consequently, altcoins are experiencing a bounce.