Many site authors, expert analysts, explained that the inverse correlation between Bitcoin (BTC) and the US dollar index (DXY) has been broken in recent weeks, but this situation will not continue for very long.
Acheson Acheson, author of the Crypto is Macro Now newsletter and many sites, Bitcoin and US dollar index discussed the inverse correlation between Historically, in the processes where DXY has fallen, Bitcoin’s moving on the uptrend Pointing out, Acheson said that this has been the case for the past few weeks. has changed stressed.
dollar index data to the downward movement While continuing unabated, Bitcoin experienced a significant growth during this time. failed to rise And almost unresponsive left.
Dollar index in the last 2 weeks Nearly 4% depreciation While he was alive, Bitcoin has lost 3.8% in the last 2 weeks. On the other hand, the analyst argued that this situation will not continue for a long time.
Reminding that the dollar is the most liquidized asset for cryptocurrencies, Acheson said, however, weakening dollar indirectly, globally liquidity He suggested that it would increase:
The dollar’s downtrend looks solid. It has been going on for a long time and the signals point to a continuation of the decline. It will be difficult to shake the BTC-DXY relationship for a long time. It’s not just that the dollar is the denominator of the most quoted pair for the crypto asset. At the same time, a weaker dollar increases global liquidity, giving US dollar debt holders around the world more room to breathe.