Bitcoin's Correlation With the Dollar Hits Lowest Since 2023
- —DXY has gained 2.6% since Sept. 9, touching a two-month high of 101.69
- —90-day BTC-DXY correlation is -0.41, the most negative since February 2023
- —R-squared of 0.17 means DXY explains only 17% of bitcoin's daily returns
- —Since January 2020, the average 90-day correlation is -0.14, peaking at +0.22 in November 2024
Why it matters: Bitcoin's loose ties to the dollar and Treasury yields support the case for it as a portfolio diversifier driven by its own catalysts.
Source: Cryptonews.net