The fall of the BTC

The dollar goes up, Bitcoin goes down. Explosive force builds up during the day and then $BTC collapses within minutes.
Many look for esoteric explanations, recalling characters from "The Simpsons," extending the bull cycle and other magical or quasi-magical factors to explain the incredible collapse of bitcoin and the entire cryptocurrency sector, which returned to pre-collapse levels today in a matter of minutes.
Now there is a chart that, at least in our view, clearly explains what happened and what the assumptions are for both acceleration and deceleration. And you have to look in the direction of the U.S. dollar, concerns about the U.S. banking system, and what's going on at the federal level with the debt ceiling.
Opening rumors about the raising of the ceiling itself, the recovery of the DXY index, which measures the strength of the U.S. dollar against other currencies, and down comes a lock made, now this is easy to say in hindsight, out of paper.

The dollar is not dead yet

As much as the tensions in the markets say otherwise, the dollar is actually more alive than ever, and no matter how some countries try to do otherwise, it will remain the center of attention, both for purely financial markets and those things that matter, mainly energy commodities.
There's still a long way to go--however, all things human come to an end sooner or later.

Even gold is falling

Today we also drew a parallel with gold. And even as it falls, the parallel unfortunately holds up. As of this writing, gold is trading -0.40 percent below yesterday's prices and a significant distance from the prices reached in the afternoon.
An important distance, which for gold - which is not a cryptocurrency - means 1 percent. And this is where it all starts again, with bitcoin, which as of this writing has lost all of today's gains and is trading at about $27,800. No, all is not lost yet, just as not all of the world's problems, including the monetary one, were solved a few hours ago.