Bitcoin and the US dollar exhibit an almost perfect inverse relationship

CryptoWorld News reports that, according to CoinDesk, the current price of Bitcoin (BTC) is $78,138.54. The 30-day correlation coefficient between the U.S. Dollar Index (DXY) and Bitcoin is -0.90, representing the most extreme inverse relationship in nearly four years. This means that when the U.S. dollar weakens, Bitcoin rises, and vice versa. Although this correlation is widely tracked, Bitcoin’s 24/7 trading structure may affect this reading—especially because weekend price fluctuations are not reflected in the DXY’s weekday trading. Analysts note that the current market environment is being influenced by broader macro risks, including rising oil prices due to disruptions in tanker traffic through the Strait of Hormuz, as well as a deadlock in ceasefire negotiations between the United States and Iran. Despite continuous ETF inflows supporting prices, industry leaders remain cautious. SkyBridge Capital founder Anthony Scaramucci said that Bitcoin may not see a meaningful recovery until October or November.

BTC-0.28%
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