US Dollar Index Near Key Level

The US Dollar Index (DXY) is nearing a level historically linked to significant Bitcoin surges. When the DXY, which measures the dollar's strength against major currencies, dips below 100, it often aligns with Bitcoin rallies. Some analysts say China might be influencing this through actions like curtailing dollar purchases, possibly due to trade tensions with the US. A weaker dollar impacts both US company revenues and the broader economy, potentially making Bitcoin a more attractive hedge. If DXY falls below 100 again, a major Bitcoin rally might unfold.