Bitcoin to $25K next? A weakening dollar could give BTC price a boost in the coming months.
The two assets have moved inversely to each another mostly since March 2020. As of Jan. 16, the daily correlation coefficient between Bitcoin and the U.S. dollar index , a barometer to gauge the greenback's strength versus top rivaling currencies, was -0.83, according to TradingView.A traditional technical setup sees more losses for the dollar ahead.," the setup appears when an asset's 50-period moving average crosses below its 200-period moving average.
"This trading was simply actively traded only on the exchange, and no unusual transactions occurred on the on-chain [...] The current institutional investors have remained calm and just watching. OTC trading will be brisk when they expect a full-fledged uptrend turn." This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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