The US national debt recently hit a new all-time high (ATH), surging above $36.5 trillion and putting significant pressure on the US Dollar Index (DXY). As the DXY struggles under the weight of mounting debt, crypto analysts believe capital may soon shift to risk-on assets like Bitcoin (BTC).
DXY Breakdown Suggests Bitcoin Rally
According to a recent CryptoQuant Quicktake post by contributor Darkfost, the DXY has dropped to a historically weak level, currently trading 6.5 points below its 200-day moving average (MA) – the largest deviation in the past 21 years.
For the uninitiated, the DXY measures the value of the US dollar relative to a basket of six major foreign currencies, including the euro, yen, pound, Canadian dollar, Swedish krona,
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