📊 DXY's Reversal Is the Real Story Behind the ETH Rotation
Crypto Twitter's been fixated on DXY lately, and looking at the chart, that attention is earned. The dollar index rallied hard from May through late July, peaking near $101.6, then reversed sharply in early August dropping to 99.518, now testing the $99.4-99.6 support zone right beneath the $100 psychological level. That's a real, tradeable move, not background noise.
Line it up against ETHBTC over the same window: the ratio ran from 0.0268 in early July to a high of 0.0301, and is currently consolidating at 0.02951, holding above its rising 20-day MA. Dollar weakness and ETH outperformance showing up in the same window that's the classic inverse correlation crypto traders watch for, playing out live.
This ties directly into the rotation story i flagged earlier this week: Intesa's Q2 13F showing a shift from BTC exposure into staked ETH, and today's BTC/ETH price action pointing the same direction.
Worth watching whether DXY holds this support zone or breaks lower that's likely to set the next leg for the ETH/BTC ratio too.
#dxy #ETHBTC