The DXY Index, has experienced one of the sharp one -week decline since 2013. The index has measured the strength of the US dollar against a basket of major currencies.
According to Bloomberg’s data from Macro’s global investor, a weekly index percentage has exceeded a negative four-standard deviation transfer-a rare event that has only occurred three other times in the history of Bitcoin (BTC).
The past events included November 2022, when Bitcoin hit its cycle of less than $ 15,500 in the fall of the FTX; March 2020, in the middle of the Covid 19 Pandemic, Bitcoin fell down for $ 5,000 for a moment; And the 2015 Bear Market, when Bitcoin traded around $ 250. Each time the DXY index suffered a drop greater than a -4 standard deviation, it compatible with a bottom of Bitcoin, followed by significant price acquisitions.
In addition to CoinDesk research Highlights that the DXY Index is currently declining at a faster rate than President Trump’s first term – a time aligned with the 2017 Bitcoin Bull Run. A decline in the DXY index tends to be desirable for risk assets, however a DXY index above 100, is still considered strong, currently at 103.8.
