One of the most important barometers for global currencies is the Dollar Index (DXY), which measures the value of the US Dollar versus a basket of global currencies.
What is the relationship between DXY and BTC?
What Does it Signify? It is a known fact that the crypto price movements are deeply correlated with the DXY Index since its inception. While the DXY index gets stranger, Bitcoin, Ethereum, and many other assets tend to fall. Besides, if the cryptos manifest their strength, then the dollar's strength tends to fall.
What is the relationship between DXY and BTC?
What Does it Signify? It is a known fact that the crypto price movements are deeply correlated with the DXY Index since its inception. While the DXY index gets stranger, Bitcoin, Ethereum, and many other assets tend to fall. Besides, if the cryptos manifest their strength, then the dollar's strength tends to fall.