US Dollar Taps 3 Year Lows As Bitcoin Resumes Uptrend
The US dollar has not demonstrated its typical safe-haven strength amid the Iran-Israel conflict, with the US Dollar Index (DXY) trading at its lowest since February 2022, at 97.50. Analysts note a lack of flight-to-safety interest in the dollar during this period. In contrast, Bitcoin is experiencing volatility, recently trading at $107,930 after dipping below $100,000. Analysts highlight Bitcoin's resilience and strength, with some suggesting it is emerging as a new market trade akin to emerging markets in the early 2000s. Comparisons are drawn between the current macro environment and past dollar depreciations that spurred capital into high-growth sectors. Crypto is viewed as today's emerging market, attracting capital seeking growth opportunities.
