Even the return of Iranian exports if the United States rejoins a nuclear agreement and lifts sanctions on Tehran was unlikely to change the bullish picture, he said.
China, which powers nearly 80 percent of the global cryptocurrency trade, relies on a particularly polluting type of coal, lignite, to power some of its mining.
US Treasury yields stalled as market participants grew increasingly confident that the Federal Reserve will hold off on hiking interest rates for the time being, despite worrisome near-term inflation spikes.
"That's going to be bearish for the dollar. You'll eventually see commodity-based currencies outperforming," Moya added.
"We're going to see volatility definitely over the next couple of months" given uncertainty over the path of growth, Kristen Bitterly, of Citi Private Bank, told Bloomberg TV.
The price of copper hit a decade-high close to $10,000 per-ton, largely on strong Chinese demand and tight supplies of the metal used in popular electric wiring amid worries of a strike action in the world's biggest producer Chile.