Just 17% of BTC's daily price moves are explained by Dollar Index: Crypto Daily
Summary
The U.S. Dollar Index has risen about 2.6% since Sept. 9, while bitcoin has retreated from nearly $87,500 to around $83,000–$84,000. Recent data show a negative 90-day BTC-DXY correlation of -0.41, but the dollar explains only about 17% of bitcoin’s daily return variation. Longer-term correlation has averaged a weaker -0.14 since 2020 and has sometimes turned positive. The analysis suggests dollar strength may constrain bitcoin, but its influence is limited, supporting bitcoin’s potential role as a portfolio diversifier. DXY is above its Ichimoku cloud but faces resistance near 101.80.
