As the U.S. Dollar Index (DXY) continues its downward slide, Bitcoin is climbing once again, breaking past the $83,000 mark.
The two charts tell a compelling story: a weakening dollar seems to be running in parallel with renewed strength in Bitcoin.
The DXY chart reveals a steady decline over several days, falling from above 103.000 to under 100.000, with the most recent reading at 99.658. This marks a significant dip, suggesting broad-based dollar weakness across major currencies.
Meanwhile, the Bitcoin chart tells quite a different tale. From early April 11th, BTC has seen a steady rise from the $78,500–$79,000 zone all the way to nearly $83,300 at its peak. Despite a few dips, the trend has been strongly upward, with the most recent trade hovering around $82,895.
The price action indicates growing momentum in the crypto market. Bitcoin has surged more than $4,000 in a matter of hours, suggesting strong buying pressure. Volume spikes around key breakout points reinforce the bullish sentiment.
The inverse movement between Bitcoin and the dollar hints at a potential shift in investor preference — with capital possibly flowing out of traditional fiat into decentralized assets.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/us-dollar-is-going-down-as-bitcoin-is-reaching-83000-again/