✉news BusinessCrypto first seen 10 h ago, last 10 h ago, peak #13
Dollar Index explains only 17% of bitcoin's daily moves
Original: The Dollar Index explains just 17% of bitcoin's daily moves: Crypto Daily
Bitcoin's daily price swings are only weakly tied to the US Dollar Index, according to a CoinDesk Crypto Daily report, which says the dollar benchmark accounts for just 17% of bitcoin's day-to-day moves. The finding undercuts a popular narrative that the crypto asset trades mainly as an inverse bet on dollar strength, suggesting other drivers like flows and sentiment matter more.
Why now: It challenges the widely held assumption that bitcoin moves primarily in opposition to the dollar.
BitcoinUS Dollar IndexCoinDesk
Evidence
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