Bitcoin ignores historic dollar breakdown: How long can this calm last?
2025-07-10 01:10:57

Main Idea
Bitcoin's muted response to the U.S. Dollar Index (DXY) breakdown suggests market hesitation, with net outflows and bearish derivatives signaling potential upcoming volatility.
Key Points
1. The U.S. Dollar Index (DXY) dropped 6.5 points below its 200-day moving average, the largest deviation in 21 years, yet Bitcoin remained range-bound.
2. Bitcoin recorded $24.56 million in net outflows, indicating possible accumulation phases or anticipation of volatility.
3. 62.6% of BTCUSDT perpetual traders on Binance held short positions, with a Long/Short ratio of 0.60, suggesting bearish sentiment.
4. Whale activity declined, with transfers in the $1M-$10M range falling 6.6% and those above $10M declining by 5.01%, possibly due to regulatory or macroeconomic uncertainties.
5. Bitcoin’s stock-to-flow ratio fell by 33% to 1.06 million, weakening the perceived scarcity narrative of BTC.
Description
Despite the DXY breakdown, Bitcoin’s muted response signals hesitation amid mixed on-chain signals.
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