Bitcoin’s path toward $120,000 faces significant hurdles despite supportive pressure from a weakening US dollar. Analysts note the cryptocurrency’s price historically moves inversely to the US Dollar Index (DXY), with dollar depreciation typically buoying Bitcoin valuations. Key economic indicators including… Read More »Bitcoin’s $120,000 Potential Contingent on Dollar Weakness Amid Economic Uncertainty
Bitcoin is currently trading below the crucial $120,000 resistance level, facing increased downward pressure as the U.S. Dollar Index (DXY) shows significant strength. Market analysts highlight the historical inverse correlation between Bitcoin and the DXY, noting that a strengthening dollar… Read More »Rising Dollar Index Heightens Bearish Pressure on Bitcoin Price
A significant decline in the U.S. Dollar Index (DXY) signals potential upside for Bitcoin, as historical patterns demonstrate a strong inverse relationship between dollar strength and cryptocurrency valuations. The DXY is currently trading 6.5 points below its 200-day moving average… Read More »Weakening U.S. Dollar May Prime Bitcoin for Rally Amid Historical Inverse Correlation
Bitcoin is signaling potential upside as the US Dollar Index (DXY) falls below critical long-term moving averages, reinforcing its historical inverse correlation with the cryptocurrency. The DXY recently plunged to 96.377, its weakest level in over three years, registering a… Read More »US Dollar Weakness Boosts Bitcoin Upward Momentum as DXY Index Breaks Key Levels