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Dollar Index Declines Below 105 as Bitcoin Surges Past $88K

Dollar Index Declines Below 105 as Bitcoin Surges Past $88K
The Dollar index (DXY), which measures the strength of the U.S. dollar against other major currencies, has dropped below 105 for the first time since mid-November. Typically, a DXY index above 100 is considered strong and puts pressure on risk assets. However, bitcoin (BTC) has risen above $88,000 despite the weakening dollar. This mirrors a similar pattern observed in 2017 when the DXY fell and bitcoin had a bull run. There are concerns about tariffs, inflation, and U.S. GDP growth, and the economy appears to be slowing. If the upcoming jobs report shows weaker than anticipated results, the Federal Reserve may consider a rate cut in its March meeting.

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