Bitcoin could experience a surge in price due to the weakening of the US dollar, which has fallen to a three-month low. While Bitcoin's inverse correlation to the dollar has weakened this year, its recent movements have caught the attention of traders.
The US dollar index (DXY) is on track to test support at 100 for the first time in months, and if it falls further, Bitcoin could benefit. Traders predict that the downward trend of the DXY will continue, with some forecasting that BTC/USD could reach $35,000.
All Comments