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Data suggests the strong US dollar makes Bitcoin weaker argument is



Data suggests the strong US dollar makes Bitcoin weaker argument is flawed

At the moment, there seems to be a general assumption that when the U.S. dollar value increases against other global major currencies, as measured by the DXY index, the impact on (BTC) is negative.

For the past few weeks, analysts and influencers have been issuing alerts about this inverse correlation, which held true until March 2021.

Dollar Index DXY (blue) vs. Bitcoin (orange, logarithmic). Source: TradingView
Dollar Index DXY (blue) vs. Bitcoin (orange, logarithmic). Source: TradingView