$BTC's negative correlation with the $DXY has recently broken. The situation may not last long as gyrations in DXY influence global liquidity conditions. By godbole17.
Bitcoin's negative correlation with the U.S. dollar index has broken in recent weeks, with the top cryptocurrency struggling to gather upside traction amid continued sell-off in the greenback. The situation, however, may not last long, per one observer.
"The negative relationship between DXY and BTC is likely to return, as gyrations in the dollar index influence global liquidity conditions, which in turn affect valuations in risk assets, including cryptocurrencies," according to Acheson Acheson, author of Crypto is Macro Now newsletter and former head of research at CoinDesk and Genesis.in global trade, international debt, and non-bank borrowing.
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