Bitcoin has fought for trade over USD 90,000 since a decline below USD 95,000 on February 24. Cryptographic assets have been subjected to grave price fluctuations over the past week, according to Glassnode Bitcoin (BTC), reaching the highest level from 3 2024.
BTC Annual volatility realized. Source: Glassnode
While the market was preparing for further price fluctuations before the first American cryptographic summit in the White House in history, analysts also focused on the current immersion of the American dollar and its potential impact on bitcoins.
Bitcoin, correlation of the American dollar index
James Coutts, main cryptographic analyst at Real Vision, provided that A detailed analysis analyzing the historical importance of a falling American dollar (DXY) and Bitcoin. Because DXY shows the fourth largest drop in history, exceeding -2% to -2.5%, Coutts said that it can catalyze up-to-date Bitcoin ups.
Changing Percentyl Bitcoin and DXY. Source: X
While dealing with historical data since 2013, Coutts talked about the correlation between DXY dips and Bitcoin trends and analyzed DXY’s DXY in terms of 2% and 2.5%.
When the DXY value drops by 2.5% or more:
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Bitcoin increased in 100% of cases.
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The best case can be brought by a standard deviation of +1 of 65% or the price of Bitcoins worth $ 143,000
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The basic case provides an average refund of 37% or USD 123,000.
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The worst result includes a profit of 14% or a price of USD 102,000
In the event of a DXY decrease by 2% or more:
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Bitcoin has increased by 17 to 18 times, with 94% of the winner of the wins within 90 days
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The best, standard deviation of +1 of 57.8% or USD 141,000
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Base, average return 31.6% or USD 118,000
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The worst case, a decrease by 14.6% or 76,500 USD
Because DXY fell by 3% between March 3 and March 6, Coutts made a “brave phone” and predicted up-to-date highs of all time (ATH) until May 2025.
DXY 1-week shift. Source: X
Similarly, Julien Bittel, Macro Research manager at Global Macro Investor, he repeated Possibility to grow for bitcoins based on the current DXY decline. The analyst said
“1) Financial conditions are conducted by risk assets by several months. 2) At the moment, the financial conditions are alleviated – and quickly … “
Related: Bitcoin forgets about the strategic reserve “Sell an information event” with a 4% reflection
Bitcoin eyes $ 140,000 after “3”
Santiment, a data analysis platform, emphasized that over 50,000 wallets have been added over the past month. Data suggested That 37,390 up-to-date portfolios contained less than 0.1 BTC, 12,754 wallets between 0.1-100 BTC and six whale wallets with at least 100 BTC each.
Bitcoin network growth chart according to Santiment. Source: X
This type of activity suggests that investors remain positive about long -term prospects, despite the drop in prices over the past month.
From a technical point of view, Jelle, cryptographic investor, he believed The configuration of the “power of three” Bitcoin has currently remained vigorous. The analyst said
“Bitcoin still seems willing to recover USD 91,200. When he does – the power of three configurations comes into play; with a target of USD 140,000. “
Bitcoin power 3 configurations. Source: X
Related: Bitcoin has a “more than 50% chance” of a up-to-date level until June: Cory Klippsten
This article does not contain investment advice or recommendations. Each investment and commercial movement involves risk, and readers should conduct their own research when making decisions.
