BTC price takes aim at $74,000. Surprisingly, the dollar's rallying too: Crypto Daybook Americas
Bitcoin is rallying alongside a strengthening U.S. dollar, defying the typical inverse correlation, as it targets the $74,000 resistance level.Summary
Bitcoin (BTC) has rallied over 10% since the Middle East conflict began, nearly testing the $74,000 mark, even as the U.S. Dollar Index (DXY) strengthens, which is unusual as the dollar typically moves inversely to dollar-denominated assets like BTC. This pattern of simultaneous rallying has been observed several times since President Trump's 2024 election, coinciding with his pro-crypto policies. Demand from U.S. investors appears strong, indicated by the rising Coinbase Premium index. Market focus is now on whether BTC can break the $74,000 resistance, while traders await key macroeconomic data, including the February Employment Situation report and CPI figures, as potential volatility catalysts. Some analysts caution that the current calm, tied to U.S. assurances regarding oil tankers, remains fragile amid ongoing geopolitical tensions.
(Source：CoinDesk)