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Bitcoin has come under only limited pressure even as the U.S. dollar index climbed to its highest level in two months, according to a CoinDesk analysis. The dollar index rose 2.6% since Sept. 9 to 101.69, while BTC recently corrected from about $87,500 to the $83,000-$84,000 range. CoinDesk said the pullback appears relatively limited given the magnitude of the dollar’s rise.
Over the past 90 trading days, the daily return correlation between BTC and the dollar index stood at negative 0.41, the lowest level since February 2023, meaning the tendency for the two assets to move in opposite directions has become more pronounced recently.