Market Shifts as Bitcoin Tests Its Cloud

Bitcoin's price action on Tuesday has raised concerns among analysts. The cryptocurrency pierced support and dipped under its Cloud, but did not close below it. This is being seen as a warning sign that could lead to further declines.

Ethereum, on the other hand, remains in bullish consolidation inside its daily Cloud. However, its Slow line is beginning to angle down, suggesting the macro trend may be leaning bearish.

The Dollar Index (DXY) is expected to pop following Wednesday's CPI release, but it's unclear what will happen afterwards. Some analysts are predicting a drop towards historical support at 96.165, which could have positive effects on stocks and other assets.