Top Trader Uses US Dollar Index to Explain When Bitcoin Price Will Restart Bull Run

Crypto trader CarpeNoctom outlined his thoughts on how US Dollar Index (DXY) could help shape the bull for Bitcoin price. With the sweeping tariffs from Donald Trump, the stock and crypto markets have become correlated and are sensitive to macroeconomic developments. Regardless, the top trader notes that a breakdown of the US Dollar Index below a key support zone could spark the bull run for BTC price. Crypto Trader Says Breakdown of DXY Below 100 Could Spark Bitcoin Price Rally The US Dollar Index (DXY) has crashed 8% in the past 80 days, dropping from a high of 110.176 to 101.267. In the same period, Bitcoin price has shed 13%. Typically, a weak US dollar promotes risk-on behavior, allowing the stock market to rally. However, the recent intervention of Trump and his tariffs on more than 100 of US trading patterns has caused the US stock markets and BTC price to collapse.. Top trader CarpeNoctom explains that the recent crash from 103 to 101 should see crypto markets rally. Through his chart , the analyst notes Bitcoin price and the broader crypto market could ‘explode higher,’ aka restart the bull run. US Dollar Index Crashed 8% Since Jan 13 Arthur Hayes adds credence to this bullish Bitcoin price prediction by noting that BTC should decorrelate from the US tech stock. Why Collapsing DXY, Decorrelation from US Tech Stocks is Good for BTC Arthur Hayes, the recently pardoned founder of BitMEX exchange, said that he “loved tariffs.” Hayes explained, “Global imbalances will be corrected, and the pain papered over with printed money, which is good for $BTC.” The tariffs have caused the dollar to weaken while prompting foreign investors to sell US tech stocks to “bring money home.” Hayes notes that this is good for Bitcoin and gold over the medium term. Key Levels to Watch as Bitcoin Consolidates According to TraderMagus, a popular analyst and trader, the two key Bitcoin price levels to watch include $80K and $90K. Magus explains that a risk-on scenario would appear if BTC drips below $80K or if price climbs to $90K and shows strength above this level. The trader explains that intraday plays are the way to go and that investors should not get their capital chopped up. “I think it’s a massive buy opportunity once the dust settles on all this for equites & btc” To conclude, the crypto market outlook remains uncertain in the short term. In the mid-term, a sweep of $80K followed by a recovery could send Bitcoin’s value to $90K. However, a rejection at $90K could push BTC back into consolidation. On the contrary, a bearish outlook involves a breakdown of the $80K level without any support from buyers. Such a development could see the price crash to $69K, the next key foothold, where demand from long-term investors could come back. The post Top Trader Uses US Dollar Index to Explain When Bitcoin Price Will Restart Bull Run appeared first on CoinGape .