The dollar index strengthens, So What About Steem Tokens? Let’s go out!

_{Edit with Canva}

Over the past two days, the strengthening of the dollar index continued to strengthen, making the dominance of dollar market share dominant in the financial markets.

This was triggered by the FOMC and also the U.S. GDP figure that rose to 2,4% made the move positive, but it impacted negatively on the financial markets in general.

The most affected are the Japanese Yen and Gold.

The movement of the Japanese yen showed the negative had reached 2% in these two days.

_{Screenshot from My TradingView Account}

Also followed by a negative gold movement up to 2%.

_{Screenshot from My TradingView Account}

The sentiment of the U.S GDP rise has become a major trigger for market movements that tend to be negative.

It also affects the movement of the Crypto Market in general.

As with Bitcoin, it has been corrected. Bitcoin is in a correctional phase in its price action.

_{Screenshot from My TradingView Account}

Although there is an increase in market cap additions in crypto, a lot of capitalization is held in USDT.

When we look at the capitalization of MarketCap, it also tends to be corrective, after reaching its supply area from the data I successfully took from TradingView.

_{Screenshot from My TradingView Account}

What about Steem tokens?

From the price action I saw on the daily time frame, Steem’s token is still standing in a strong demand area.

This indicates Steem’s token continues to accumulate at its cyclical figure of $0.18.

_{Screenshot from My TradingView Account}

Despite the negative impact and movements, bitcoin tends to correct slowly.

This can be a trigger or accumulation for Steem tokens to scrape up.

As we know, when Bitcoin only makes sideways movements, altcoin movements can be impulsive.

It affects the transfer of capital from the capital market to certain tokens, which allows for significant price action.

_{With the note that the Steem token can maintain its price in its cyclo-logic area of $0.18.}

Thank you for reading, and hopefully this will be a useful insight for us all.

If you are interested in the world of cryptocurrency and blockchain in general, you can follow my account.