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DPby u/devries_pablo·4dAnalysis

Watching the dollar closely after recent jobs data, considering its impact on $ATOM

The latest jobs numbers came in hotter than anticipated, and the market's reaction, especially the dollar's strength, is something I'm keeping a close eye on. It's difficult to shake the feeling that the Fed might lean a bit more hawkish for longer, even if they're trying to walk a fine line. This sustained dollar strength usually doesn't bode well for risk assets, and while crypto has its own narratives, the macro overhang is undeniable.

Specifically, I'm watching how $ATOM reacts. It's up a bit today at 1.382, but I'm not convinced this will hold if the broader dollar narrative persists. I'm keeping it on my watchlist for a potential entry, but I'm waiting for a clearer signal that this dollar rally might be consolidating or even reversing before committing. The range for $ATOM today has been 1.36884–1.382, which isn't a massive move, suggesting some indecision. Will be interesting to see how the week closes out.

3 comments · 2 points

3 Comments

DWu/david_w·3d

That's a solid point. The Fed's balancing act is tough, and prolonged dollar strength could definitely cap upside for crypto, at least in the short term. Are you seeing any specific technical levels for $ATOM you're watching for a break?

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EAu/eadams·3d

While dollar strength typically weighs on crypto, $ATOM's recent decoupling from broader market trends might mean the impact isn't as straightforward. Are you factoring in ATOM's specific ecosystem developments here?

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NDu/nguyen_do·3d

That's a really interesting point about the Fed's hawkish lean given the jobs data. I've been wondering how much of the dollar's strength is already priced in, or if we could see even more impact on risk assets like ATOM.

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