Dollar

bullish

Bitcoin

would

The U.S. Dollar Index (DXY) <a href="https://www.marketwatch.com/investing/index/dxy" rel="noopener noreferrer nofollow">fell</a> to 97.96&nbsp;on Dec. 23,&nbsp;the lowest level in eleven weeks after Oct. 3.
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 <figcaption>
 Source:&nbsp;U.S. Dollar Index (DXY), MarketWatch
 </figcaption>
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The&nbsp;DXY&nbsp;is an index that measures the value of the USD&nbsp;relative to a basket of foreign currencies.&nbsp;The index's decline indicates the weakening of the dollar.
Generally, such news is considered bullish for Bitcoin (BTC) because the cryptocurrency is considered a hedge asset during times of dollar devaluation.
But there is one analyst who thinks there is no prospect of a bullish case for Bitcoin anytime soon.
<a href="https://www.thestreet.com/crypto/trading/longtime-bull-makes-ugly-prediction-for-gold-rival" rel="noopener noreferrer nofollow">Related: Longtime bull makes 'ugly' prediction for gold rival</a>
<h2 id="analyst-doesn-t-see-nuclear-printing-in-2026">Analyst doesn't see 'nuclear printing' in 2026</h2>
Global macro analyst <a href="https://www.thestreet.com/crypto/trading/longtime-bull-makes-ugly-prediction-for-gold-rival" rel="noopener noreferrer nofollow">Luke Gromen</a>,&nbsp;well-known for his bullish stance on Bitcoin&nbsp;as a hedge against fiat debasement, <a href="https://www.youtube.com/watch?v=IPp-_SezIno" rel="noopener noreferrer nofollow">recently said</a> on his YouTube channel that he doesn't foresee a&nbsp;“nuclear printing” the next year.
It means the U.S. will not print a large quantity of U.S. dollars in 2026, as per Gromen.
Bitcoin is acting like a high-beta tech stock, not a safe haven, and near-term conditions could push its price lower before it can recover,&nbsp;Gromen said.
The cryptocurrency, in fact,&nbsp;reflects liquidity in the system and when&nbsp;money is tight, Bitcoin falls, he explained.
What's happening is that <a href="https://www.thestreet.com/crypto/markets/big-shot-michael-burrys-ai-bubble-warning-extends-crypto" rel="noopener noreferrer nofollow">AI</a> and robotics are making products cheaper, which is leading to deflation, he argued. But it puts pressure on equity prices.
Since Bitcoin also acts like a&nbsp;high-beta tech stock, he argued that it is also under pressure and could fall further.
Governments tend to address such economic crises with&nbsp;“nuclear printing,” i.e., printing lots of money.&nbsp;But&nbsp;Gromen&nbsp;doesn’t think the U.S. is going to take any such step in 2026.
<blockquote>
 "We do not think nuclear printing is coming in 2026."
</blockquote>
<h3 id="more-news">More News:</h3>
<ul>
 <li><a href="https://www.thestreet.com/crypto/markets/congress-delay-on-crypto-legislation-triggers-around-1-billion-outflow" rel="noopener noreferrer nofollow">Congress delay on crypto legislation triggers $1 billion outflow</a></li>
 <li><a href="https://www.thestreet.com/crypto/trading/samson-mow-fires-wall-street-analyst" rel="noopener noreferrer nofollow">Samson Mow 'fires' Wall Street analyst over Bitcoin prediction</a></li>
 <li><a href="https://www.thestreet.com/crypto/markets/coinbase-users-lose-millions-to-alleged-brooklyn-scammer" rel="noopener noreferrer nofollow">Coinbase users lose $16 million in crypto scam</a></li>
</ul>
<h2 id="analyst-predicts-bitcoin-bear-market">Analyst predicts Bitcoin bear market</h2>
Without money printing, the economic conditions indicate&nbsp;tightening. Worse,&nbsp;the&nbsp;U.S. tech companies face rising costs, power and grid limits for AI, and more competition from <a href="https://www.thestreet.com/crypto/markets/-trump-china-tariffs-crypto" rel="noopener noreferrer nofollow">China</a>, which adds pressure, he further added.
The analyst, therefore, remains&nbsp;bearish on Bitcoin in the near term and thinks it could drop lower.
However, he is still bullish on Bitcoin in the&nbsp;long term&nbsp;and expects a crisis later that could lead to "nuclear printing," which would be very positive for Bitcoin.
Bitcoin fell more than 2.5% in the last 24 hours to trade at $87,654.28 at the time of writing.
<a href="https://www.thestreet.com/crypto/trading/samson-mow-fires-wall-street-analyst" rel="noopener noreferrer nofollow">Related: Samson Mow 'fires' Wall Street analyst over Bitcoin prediction</a>

Analyst rules out 'nuclear' dollar printing but Bitcoin still not safe

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TheStreet Roundtable

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