$DXY Outlook: The End Of #Bitcoin?

2 days ago, the Non-Farm Payroll data was released. Unexpectedly, the NFP went up by a lot, despite the decreasing trend it had been experiencing the past few months. 

This shows that the US economy is getting stronger and inflation has not yet cooled off, hence possibly delaying a rate cut and causing the dollar to strengthen even further.

In contrast, #Bitcoin took a massive hit and things are not looking good for the crypto market.
From the weekly $DXY chart below, we can also see how price action also support the strong NFP data. Price is currently being held by the daily timeframe orderblock, not to mention the stochastic's golden cross and bullish divergence that recently formed. 

All this just shows how the dollar is supposed to go higher from this point, meaning risk-on asset will take a massive hit, especially the crypto market
IMPORTANT NOTE: No, im not trying to spread fear, but i just think it's worth knowing how external factors may affect the crypto market, hence we can be cautious and ready for whatever may happen in the market.
#DXY #Bitcoin