Bitcoin price fails to go parabolic as the US Dollar Index (DXY) falls — Why?

Declines in the US Dollar Index are usually followed by strong Bitcoin price rallies, but this time BTC continues to fall.

Bitcoin (BTC) has fallen 12% since March 2, when it nearly reached $94,000. Interestingly, during the same period, the US dollar weakened against a basket of foreign currencies, which is usually seen as a positive sign for scarce assets like BTC.

Investors are now puzzled as to why Bitcoin hasn’t reacted positively to the declining DXY and what could be the next factor to trigger a decoupling from this trend.

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