Lots of pressure from higher Dollar on BTC now. All this
chart means is Dollar went up to peak of its trend levels, if its as a scales or ratio to BTC that makes it harder to rise. This is 17 on a blackjack table or something, its kinda risky but also can be an opportunity if Dollar does top out in its value.
I think the entire market also knows the dollar is going to get strong this year. Two rate hikes at least are expected and we could even get one as early as March. Effect on risky assets like Bitcoin is supposed to be evident but I'm hoping that all this selling is already due to people expecting that, so when the hike does come, we should be safe.
You are right, in fact this is a speculation that many are doing and that is not unreasonable, however when evaluating the behavior of the dollar and the BTC, for many the BTC does not fit for now, but at any moment the BTC can give a very high bullish turn, when this happens, any token that comes from good projects or that has to do with casinos is likely to go up, because the trend will now be towards the safe, and BTC and casino tokens are considered safer, this due to the experiences of many investors in NFTs.
