Decentral Block Post

Bitcoin (BTC) hugged $22,000 on July 19 as macro conditions slowly turned to favor risk assets. 

Stocks, crypto rise as dollar weakens

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD cooling volatility immediately below the crucial 200-week moving average (WMA).

The Wall Street open saw further gains for United States equities in the face of a declining U.S. dollar, which extended its retracement after hitting its latest two-decade peak.

The U.S. dollar index (DXY) stood at around 106.5 at the time of writing, down 2.6% from the high seen July 14.

For Bitcoin analysts, it was thus a case of wait and see as markets bided their time between buy and sell levels.

ApeCoin (APE) rallied to start the week as traders considered Yuga Labs' decision to open its Otherside metaverse for selected users. In doing so, the token broke out of a technical pattern that hints at another 45% price rally by September 2022.

Otherside metaverse euphoria

APE's price surged by almost 23.5% week-to-date to reach $6.12 a token on July 19.

The weekly gains came as a part of a rally that started on July 16. Interestingly, Yuga Labs invited 4,300 players of its Otherside gaming metaverse for a demo—and the tour of its Bored Ape avatar online platform—on the day of APE's rally.

That suggests traders purchased APE after taking cues from the Otherside update, given it serves as a governance token at ApeCoin DAO. This "decentralized autonomous organization," or DAO, powers the ecosystem of apps and services deployed by Yuga Labs and third-party brands, including Otherside.

APE price eyes 45% rally

The Otherside euphoria has also prompted APE to exit a technical setup called the "ascending triangle."

ApeCoin (APE) rallied to start the week as traders considered Yuga Labs’ decision to open its Otherside metaverse for selected users. In doing so, the token broke out of a technical pattern that hints at another 45% price rally by September 2022.

Otherside metaverse euphoria

APE’s price surged by almost 23.5% week-to-date to reach $6.12 a token on July 19.

The weekly gains came as a part of a rally that started on July 16. Interestingly, Yuga Labs invited 4,300 players of its Otherside gaming metaverse for a demo — and the tour of its Bored Ape avatar online platform — on the day of APE’s rally.

That suggests traders purchased APE after taking cues from the Otherside update, given it serves as a governance token at ApeCoin DAO. This decentralized autonomous organization (DAO) powers the ecosystem of apps and services deployed by Yuga Labs and third-party brands, including Otherside.

APE price eyes 45% rally

The Otherside euphoria has also prompted APE to exit a technical setup called the ascending triangle.