The historical negative correlation between Bitcoin and the Dollar Index (DXY) may be changing, according to analysts. Options data from the Chicago Mercantile Exchange suggests a bullish trend for Bitcoin over the next four weeks, while the 30-day risk reversal in the Euro-Dollar pair indicates a stronger dollar. Analysts believe that Bitcoin has started to ignore the dollar index, signaling a potential positive correlation between DXY and BTC. Investors are taking long positions and expect Bitcoin to continue rising towards $70,000. The US elections have been a dominant narrative for Bitcoin and cryptocurrencies in recent months.
- Content Editor ( en.bitcoinsistemi.com )
- 2024-10-16
Competition Between Bitcoin and Dollar Is Ending! Analysts Said Inverse Correlation May Be Broken, Shared Bullish Signal for Both BTC and Dollar!