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The impact of the US dollar index on Bitcoin
The upward turn of the crypto market last night was directly related to the decline of the US dollar index.
In most cases, the US dollar index and the crypto market are negatively correlated.
Yesterday, the US dollar index fell below the 7 and 20 moving averages, and it was the second daily line. According to common sense, it should continue to fall back. The M7 moving average of the weekly line is 104.9, which is now at 105.7, so in this space, it also provides momentum for the upward rebound of the crypto market.
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We do not predict trends, we only follow trends.
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