Bitcoin eyes gains as dollar index sinks to 21-year lows — Can BTC surge past all-time high?
2025-07-09 09:42:48
Main Idea
A weakening U.S. dollar may lead to a surge in Bitcoin, as historical data shows an inverse correlation between the U.S. Dollar Index and Bitcoin's price.
Key Points
1. The U.S. Dollar Index has dropped to a historically weak level, potentially signaling a rise in Bitcoin's price.
2. Historical trends since 2015 show Bitcoin's correlation to the dollar index typically ranges from -0.4 to -0.8, indicating an inverse relationship.
3. Bitcoin's price currently trades at $108,712, slightly below its all-time high of $111,814 set on May 22.
4. Trading volume has decreased by 18% in a single day to about $21.5 billion, with derivatives trading volume down roughly 12% to $55.3 billion.
5. Technical indicators for Bitcoin are mixed, with the market neither strongly bullish nor bearish, and Bollinger Bands suggesting potential increased volatility.
Description
A weakening U.S. dollar is opening the door for a possible new surge in Bitcoin, stirring questions about whether one of finance’s most familiar patterns is about to play out again. That’s the view in a July 9 analysis shared by CryptoQuant contributor Darkfost, who points out that the U.S. Dollar Index has dropped to a historically weak level. It’s now sitting 6.5 points under its 200-day moving average, the largest gap seen in more than 21 years. Some traditional markets may be concerned about...
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