The DXY Index, also known as the USD Index, is an index that measures the strength of the US dollar compared to six other currencies, often referred to as a basket of currencies of America's major trading partners. Therefore, changes in these currencies will have certain effects on the USD Index.
Does this index impact the Crypto market?
Bitcoin (BTC) and USD are inversely correlated as BTC and gold belong to the same asset class that is closely watched by market participants.
Understand that when the USD increases, BTC will decrease and vice versa
