Bitcoin gets ‘highly favorable’ cues as DXY sets 21-year weakness record
Bitcoin maintaining its inverse correlation to the US dollar means big wins on the horizon as the dollar strength DXY index trails below key moving averages.
Key points:
The US Dollar Index (DXY) is below its yearly moving average and more than six points below its 200-day equivalent.
Bitcoin should stand to benefit from the trend thanks to its traditional inverse correlation to DXY.