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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-rises-as-usd-weakens" rel="noopener noreferrer nofollow">Bitcoin Rises as USD Weakens</a><br></p>
<p style="text-align: justify">Real Vision analyst Jamie Coutts has pointed out a significant relationship between the value of the US dollar and <a href="https://en.bitcoinhaber.net/italian-bank-breaks-new-ground-with-bitcoin-services-for-1-million-clients" rel="noopener noreferrer nofollow">Bitcoin</a>‘s price movements. Sharing his insights on social media, Coutts elaborated on how fluctuations in the US Dollar Index (DXY) impact Bitcoin’s <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank">market performance</a>. A closer look at current trading patterns reveals that a decrease in DXY could potentially trigger a Bitcoin rally.</p>
<h2 id="could-a-3-drop-spark-a-rally">Could a 3% Drop Spark a Rally?</h2>
<p style="text-align: justify">The DXY measures the US dollar’s value against six major global currencies and is currently trading within a notable range. Coutts noted that a three percent decline from its current level of 104.52 could significantly uplift Bitcoin’s price. Specifically, a drop below the 101 level in DXY could act as “rocket fuel” for Bitcoin, potentially pushing it up by 127% to approximately $150,000 in this cycle.</p>
<p style="text-align: justify">Risk assets like Bitcoin generally benefit when the US dollar weakens, Coutts explained. The DXY reflects real-time market expectations regarding liquidity, and increased liquidity is advantageous for risky assets. The critical threshold to monitor is the 101/102 range in DXY, as a fall below this level could herald a strong bullish phase for Bitcoin.</p>
<h2 id="what-could-happen-in-a-negative-scenario">What Could Happen in a Negative Scenario?</h2>
<p style="text-align: justify">Coutts also highlighted a potential negative scenario. Should DXY strengthen and exceed the 106/107 range, Bitcoin could face downward pressure. This surge in DXY might drag Bitcoin’s price down to levels last seen in February, possibly reaching the $50,000 range.</p>
<h2 id="key-takeaways">Key Takeaways</h2>
<p style="text-align: justify">Here are some crucial inferences for investors:</p>
<ul>
 <li>A 3% drop in DXY could boost Bitcoin’s price significantly.</li>
 <li>Monitor the 101/102 DXY range for potential bullish signals.</li>
 <li>If DXY rises above 106/107, be cautious of a Bitcoin price decline.</li>
</ul>
<p style="text-align: justify">At present, Bitcoin is trading at $66,189. According to Coutts, the short-term <a href="https://newslinker.co/" rel="noopener noreferrer nofollow" target="_blank">future</a> of Bitcoin is closely tied to the movements in DXY. Investors should keep a close watch on these indices to make informed decisions.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-rises-as-usd-weakens" rel="noopener noreferrer nofollow">Bitcoin Rises as USD Weakens</a></h5>

Bitcoin Rises as USD Weakens

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