Although the Dollar Index rose to its highest level in two months, its pressure on Bitcoin prices has not yet been significant, CoinDesk analyzed. The Dollar Index has risen 2.6% since September 9, reaching 101.69. Typically, when the dollar strengthens, the burden of dollar debt repayment increases, making investors more likely to reduce their exposure to risky assets. BTC also recently underwent a correction from approximately $87,500 to $83,000-$84,000. However, considering the dollar's appreciation, Bitcoin's decline is relatively limited, the explanation states. Over the past 90 trading days, the daily correlation coefficient between BTC and the Dollar Index was -0.41, the lowest since February 2023. This means that the tendency for the two assets to move in opposite directions has become more pronounced recently.
