US dollar strength combines with a decision on monetary policy in Europe as a backdrop to fresh fear among Bitcoin investors.
Bitcoin (BTC) continues to test $10,000 support after a weekend in which it consolidated after a major drop — what next?
Cointelegraph takes a look at the major factors set to influence BTC price action in the coming week.
Keiser: US currency index needs to drop below 80
The end of last week saw big changes for BTC/USD, with the pair shedding over 15% from $12,050 to bounce at $9,900.
The weekend failed to trigger a significant bounce, with $9,900 seeing several more tests before Bitcoin drifted back into five figures.
What changed on Friday was one macro factor — the US dollar currency index (DXY), which began rising after hitting two-year lows.
DXY measures USD against a basket of US trading partner currencies.