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CoinDesk analysis suggests stronger dollar poses weaker threat to Bitcoin than commonly believed
CoinDesk's analysis of TradingView data indicates that while a negative correlation exists between Bitcoin (BTC) and the U.S. Dollar Index (DXY), it is modest. Over the past 90 trading days, the daily moves in BTC and DXY show a correlation of -0.41, implying DXY accounts for only about 17% of the variation in BTC's daily returns. The DXY has gained about 2.6% since September 9 and hit a two-month high of 101.69 on Tuesday, but Bitcoin's pullback since September 21 has been relatively small, suggesting resilience.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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