US dollar hits 4-month low as Bitcoin trader predicts 10% drop to come
Bitcoin stands to enjoy further relief if its standard relationship to DXY weakness holds firm, as the dollar shrinks on Fed “pivot” bets.
Bitcoin (BTC) may enjoy a familiar tailwind in the coming weeks and even beyond if new macro forces continue to play out.
In a post on X (formerly Twitter) on Dec. 14, popular trader Crypto Ed, founder of trading group CryptoTA, eyed multi-month lows in U.S. dollar strength.
Bitcoin and dollar strength have in the past exhibited inverse correlation. While this has decreased in recent times, changes to U.S. macro policy are now broadly seen to boost Bitcoin but pressure the greenback going forward.
