Crypto Market Stuck in Consolidation as DXY Breaks Key Support

The crypto market continues to consolidate, with Bitcoin and Ethereum stuck near their current levels. Bitcoin is hovering around $63,513, building liquidity around $62,484, while Ethereum remains below its target of $2,000.

The US Dollar Index (DXY) has broken through a key support level at 99.475, opening the way to deeper inefficiency zones. The market is positioning itself ahead of the release of the FOMC minutes and the Jackson Hole symposium.

According to technical analysis, there are three possible scenarios for Bitcoin: an imbalance retest and breakdown to the downside, an impulsive breakout and assault on resistance, or a stop hunt and reversal higher. For Ethereum, the scenarios include a true breakout and hold, a deep liquidity grab to the downside, or a false breakout and cascading dump.

The market is expected to be driven by capital positioning ahead of Kevin Warsh's speech at Jackson Hole. The current strategy is to stay out of the market in medium-term positions in heavy assets, with intraday trading on lower timeframes in high-volatility instruments being a priority.