NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Is Sony The Next Crypto Bank? Tech Giant Applies For A National Charter In The US
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Is Sony The Next Crypto Bank? Tech Giant Applies For A National Charter In The US

Bitcoin And Crypto Investors Must Monitor The DXY: 6x Rally Ahead?

Jake Simmons
Jake Simmons
2 years ago
2 mins read
Bitcoin DXY dollar index

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

The Bitcoin and crypto prices are influenced by a complex web of factors and intertwined indicators. One such influential force is the U.S. Dollar Index (DXY), which has gained prominence as a vital gauge for Bitcoin and crypto investors.

Over the past three years, BTC and the DXY have been mostly inversely correlated, except in times where crypto-specific factors overshadowed the dollar trends. Whenever the DXY experiences a decline, Bitcoin tends to embark on an impressive rally. Conversely, BTC usually falls when the DXY rises.

DXY Approaches Crucial Level

Since the local high of 104.7 on May 31, the DXY has dropped by nearly 3%. At the time of writing, the DXY stood at 101.8 and is now approaching the yearly low at 100.8 again, which served as support in February and April respectively and initiated a bounce to the upside.

Related Reading

Bitcoin cycle

Bitcoin At Mid-Cycle Point: Historical Pattern Repeating Itself?

1 year ago

As the renowned trader Gert van Lagen noted via Twitter, the situation for the U.S. dollar index is quite precarious. Van Lagen’s assessment, based on a detailed analysis of the DXY weekly chart, suggests that the US dollar is poised to continue its slide.

Lower lows, lower highs, and the failure to break the blue downtrend for several months all contribute to the bearish sentiment. In addition, the DXY has abandoned the green uptrend and is displaying a bearish confirmation of 3 consecutive weeks. According to van Lagen, a crash of the DXY below 89 could be imminent.

DXY
DXY on the verge of a breakdown | Source: Twitter @GertvanLagen

Will The Bitcoin Price Surge Sixfold?

Renowned crypto analyst “Coosh” Alemzadeh also recently took to Twitter to share an intriguing observation about the correlation between the DXY and Bitcoin’s price movements. Alemzadeh’s chart below highlights that during previous instances when the DXY slipped below the critical level of 100, Bitcoin experienced a remarkable surge.

Related Reading

Bitcoin (BTC)

Standard Chartered Raises Bitcoin Forecast To $120,000, Citing Miners’ Reduced Selling

1 year ago

In 2017, Bitcoin witnessed a 10x rally, and in 2020, BTC soared by 7x. Alemzadeh predicts that if history repeats itself and the DXY drops to 89 as it did in the past, Bitcoin could potentially see a substantial price increase of 4x to 6x. The entire crypto market is likely to profit. Alemzadeh shared the chart below and stated:

DXY weekly update: Looks like technical correction is complete which would align w/next BTC impulse initiating.

Bitcoin vs DXY
Bitcoin vs DXY | Source: Twitter @AlemzadehC

Remarkably, Jan Happel and Yann Allemann, the founders of Glassnode, have been sharing the same opinion for quite some time. Already at the end of May, the analysts suggested an ABC structure, which has been the main source of headwinds for BTC and other risk assets.

Their prediction was that once the DXY topps out, it will decline sharply, towards the 91-93 until the end of the year. “The decline should unfold in 5 waves likely into late 2023. This move should be very supportive of risk assets and particularly Bitcoin,” say the analysts who also predict the possibility of a blow-off top for risk assets.

Bitcoin blow-off top in late 2023
DXY prediction | Source: Swissblock Insights

At press time, the Bitcoin price remained in its sideways trend, trading at $30,421.

Bitcoin price
Bitcoin remains in sideways trend, 4-hour chart | Source: BTCUSD on TradingView.com
Featured image from iStock, chart from TradingView.com
Tweet123Share196ShareSend
Jake Simmons
Jake Simmons

Jake Simmons

Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with NewsBTC.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field.

Read more

His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone.
With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake’s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage.

Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control.

For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality.

As a journalist, Jake’s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies.

In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it’s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake’s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time.

You can engage with his latest takes on Twitter: @realJakeSimmons.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Best Altcoins to Buy as XRP ETF Nears Approval and Institutional Buys Peak

Best Altcoins to Buy as XRP ETF Nears Approval and Institutional Buys Peak

What to Know: $XRP has hit a recent low of $1.8 after the October 10 flash crash Institutional investment could...

Aaron Walker 2 hours ago
Crypto airdrop season begonnen - belangrijkste ETH airdrops van 2025 onthuld

SEC voorzitter bullish op crypto – innovatie plan en RWA plan ligt op tafel

In de cryptowereld is er belangrijk nieuws: SEC voorzitter Paul Atkins heeft zich openlijk uitgesproken voor een pro-innovatie koers richting...

Lars Diederiksen 2 hours ago

Prévision prix Cardano : les whales accumulent 140 millions de dollars, direction 3 $ selon Grok

Le marché semble encore marqué par la volatilité de ces derniers jours, mais certaines données on-chain racontent une autre histoire....

guillaumev 2 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

dogecoin

Dogecoin Price Eyes Major Breakout, Is A Rally To $0.7 All-Time Highs Possible?

Sandra White 32 minutes ago

XRP’s Road to $5 Starts With a Dive to $2: $SNORT Presale Ends in 4 Days

Aaron Walker 1 hour ago
XRP

Analyst Reveals The Chances Of The XRP Price Rallying 300% To $9 This Bull Run

Scott Matherson 1 hour ago

Premium Sponsors

Press Releases

  • ドージコイン 今後の価格予測:強気ダイバージェンスが示す新たな上昇のチャンス

    ドージコイン...

    2 hours ago
  • リップル 今後の見通し:6,300万ドルの売却が発生も、賢い投資家はすでに買い増し開始

    リップル...

    2 hours ago
  • 仮想通貨プレセールで2,380万ドル超を調達した新プロジェクト、次に爆発的成長を遂げる可能性も

    ...

    2 hours ago
  • 仮想通貨おすすめ:市場暴落からの回復に苦戦する中で今注目すべき銘柄

    ...

    3 hours ago
  • イーロン・マスクがドージコインの“エネルギー”を強調、新しい仮想通貨がさらに注目を集める

    ...

    3 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.