Analysts Pinpoint DXY as New Primary Bitcoin Price Predictor

Analysts Pinpoint DXY as New Primary Bitcoin Price Predictor

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A recent analysis suggests that the DXY (US Dollar Index) has supplanted the M2 money supply as the primary macro indicator driving Bitcoin's price. Analysts observe a strong inverse correlation between BTC and the DXY, indicating a significant shift in the factors influencing the cryptocurrency market's largest asset.

Analysts say DXY now drives Bitcoin as M2 loses influence; BTC shows a strong inverse correlation.