Bitcoin, dollar move in near-perfect opposition. It hasn't been this extreme in almost 4 years.
CoinDesk·2h ago·Neutral
What Happened
Bitcoin and the Dollar Index exhibit a negative correlation coefficient of -0.90, the strongest inverse relationship since September 2022. When the dollar weakens, bitcoin gains, and vice versa. This correlation accounts for approximately 81% of bitcoin's short-term price movements. Bitcoin's rally has stalled above $79,000 as the Dollar Index strengthened.
Key Entities
BitcoinDollar Index (DXY)TradingViewCorrelation coefficientStrait of Hormuz