HomeNewsNewsWhy there’s good reason behind Bitcoin [BTC] waiting on the Dollar Index

Why there’s good reason behind Bitcoin [BTC] waiting on the Dollar Index

While Bitcoin continues to perform within a tight range, attention is now shifting towards the U.S dollar. This is particularly due to the Dollar index’s impressive rally over the last few months, one which saw it rally to its highest levels in 20 years. However, it is currently showing signs of weakness. This has led many to wonder whether the Dollar index’s bearish correction may trigger a Bitcoin rally.

Bitcoin and the crypto-market at large have been heavily bearish in the last few weeks. This has been the case with the securities market too. This, amid interest rate hikes aimed at curbing inflation and economic downturn. Bonds are traditionally the go-to when rates go up but even those have performed poorly, leaving investors running towards the dollar.

Will the Dollar index’s drop contribute to risk-on conditions?

This week has brought forth chatter that the Dollar index might be about to experience a sizeable bearish…

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