Analysts said the US dollar did not show the usual safe strength during the previous Iran-Israel conflict, as Bitcoin rises to another attempt to reach $ 111,970 all-time highs.
“The dollar index is dabbling with new cycle lows today,” macroeconomist Lyn Alden Says In a post on Wednesday. “Slightly got any flight-to-safety bid over the past few weeks, either,” Alden added.
“Fiat is fading,” said the analyst
Echoing a similar emotion, true vision crypto analyst Jamie Coutts Says “Fiat is fading.” The US Dollar Index (DXY), which measures USD’s strength against major currencies in the world, has traded at the lowest point since February 2022, sitting at 97.50 at the time of publication, According to In tradingview data.
It was close to the same level as it reached on June 13, when tensions first increased after Israel launched Iran airstrikes.
In situations like these, market participants usually expect a move from riskier assets such as cryptocurrencies to safer options such as the US dollar or government bonds. In October 2024, a major missile strike by Iran that targets sites across Israel Lead to DXY Spiking 2.67% on the moon.
Businessmen featuring the recent Bitcoin strength
While the US dollar did not move forward during the recent conflict, the Bitcoin (Btc) experienced volatility.
On Sunday, Bitcoin briefly sank below $ 100,000 for the first time since early May. However, since US President Donald Trump’s Fragile Ceasefire has occurred On Monday, since it collapsed, trading $ 107,930 at the time of publication, According to In CoinMarketCap data.
Crypto analyst Matthew Hyland Says that “bulls are in control,” while others point out the strong stability of Bitcoin despite recent risk conditions.
Crypto is now emerging trade in the market
“Bitcoin broke two 2-week falls in the last month,” Crypto’s Capital Analyst Says On Wednesday.
Real Vision coutts have drawn comparisons between the current macro environment and in the early 2000s, when a weakening dollar leads to a capital of capital in emerging markets and goods.
“If you remember 2002-2008, the final major dollar removal shines the fire under equality and goods,” Coutts said.
Related: Bitcoin Bulls Halt $ 4K BTC Price Dip while the US dollar hit new 3-year lows
“Em outperformed DM by 3x while capital has been pursuing high growth, young economies-giving the BRICS an increase,” he said, adding that the newly emerging market is crypto:
“Crypto is now Em. The capital is moving where the energy is,” he said.
Magazine: Why being a founder of Gen Z Crypto is a ‘blessing and a curse’
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
