By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Notification
yourcryptonewstoday yourcryptonewstoday
  • Home
  • News
    • Crypto Bubbles
    • Regulations
    • Metaverse
  • MarketCap
  • Altcoins
    • Solana
  • Crypto
    • Bitcoin
    • Ethereum
    • Cardano
  • Blockchain
  • Market
    • Nft
  • Mining
  • Exchange
  • Analysis
    • Evaluation
    • Multi Currency
Reading: Value of Bitcoin again correlated to the dollar
Share
bitcoin
Bitcoin (BTC) $ 66,527.00
ethereum
Ethereum (ETH) $ 1,949.56
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 615.47
usd-coin
USDC (USDC) $ 0.99993
xrp
XRP (XRP) $ 1.37
binance-usd
BUSD (BUSD) $ 1.01
dogecoin
Dogecoin (DOGE) $ 0.093697
cardano
Cardano (ADA) $ 0.27685
solana
Solana (SOL) $ 84.33
polkadot
Polkadot (DOT) $ 1.61
tron
TRON (TRX) $ 0.281943
Your Crypto News TodayYour Crypto News Today
  • Home
  • News
  • MarketCap
  • Altcoins
  • Crypto
  • Blockchain
  • Market
  • Mining
  • Exchange
  • Analysis
Search
  • Home
  • News
    • Crypto Bubbles
    • Regulations
    • Metaverse
  • MarketCap
  • Altcoins
    • Solana
  • Crypto
    • Bitcoin
    • Ethereum
    • Cardano
  • Blockchain
  • Market
    • Nft
  • Mining
  • Exchange
  • Analysis
    • Evaluation
    • Multi Currency
© 2024 All Rights reserved | Protected by Your Cryptonews Today
Your Crypto News Today > News > Crypto > Bitcoin > Value of Bitcoin again correlated to the dollar
Bitcoin

Value of Bitcoin again correlated to the dollar

December 5, 2024 7 Min Read
Share
Value of Bitcoin again correlated to the dollar

Table of Contents

Toggle
  • The decorrelation of Bitcoin from the worth of the greenback
  • The return to normality
  • The evolution of the worth of Bitcoin and greenback within the coming days
  • The evolution within the medium/long run
  • The report

The pattern over time of the worth of Bitcoin is often correlated with that of the US greenback.

For precision, within the medium/long run, the variations within the value of Bitcoin are inversely correlated to these of the Greenback Index, the index that measures the power of the US greenback in comparison with a basket of different vital currencies globally.

  • The decorrelation of Bitcoin from the worth of the greenback
  • The return to normality
  • The evolution of the worth of Bitcoin and greenback within the coming days
  • The evolution within the medium/long run
  • The report

The decorrelation of Bitcoin from the worth of the greenback

Generally, nevertheless, within the brief time period, this inverse correlation breaks.

It’s what occurred after Donald Trump’s victory within the presidential elections on November 5 within the USA.

The truth is, that day the Greenback Index was properly under 104 factors, and in simply over two weeks it rose to over 107 factors, marking the very best annual report of 2024.

Trump’s victory, nevertheless, additionally gave wings to Bitcoin.

The worth of a Bitcoin earlier than the elections was lower than $70,000, whereas in simply over two weeks it has risen properly above $99,000.

In different phrases, in the identical interval by which the Greenback Index was rising, Bitcoin was additionally rising, each pushed by Trump’s victory.

The return to normality

This dynamic continued till November 22.

Within the 4 following days, the Greenback Index fell, returning abundantly under 107 factors, and the worth of Bitcoin additionally fell, momentarily returning under $92,000.

So till November 26, the 2 tendencies appeared apparently correlated.

The return to normality, that’s the inverse correlation between the pattern of the Greenback Index and that of the BTC value, arrived final Wednesday, November 27.

The truth is, on that date, the Greenback Index continued to fall, a lot in order that by Friday it had additionally dropped under 106 factors, whereas the worth of Bitcoin began to rise once more.

Nevertheless, the decline of the greenback was small and temporary, so it’s not shocking that the rise of Bitcoin was additionally small and temporary.

Moreover, as we speak the Greenback Index is exhibiting a small rebound, because it has returned to about 106.3 factors, and the worth of Bitcoin has fallen from yesterday’s $97,000 to about $96,000.

So the part of inverse decorrelation has ended, and it has returned to a part of inverse correlation, as per the handbook.

The evolution of the worth of Bitcoin and greenback within the coming days

Concerning the doable evolution of those dynamics within the coming days, it is very important make a big distinction.

The truth is, within the brief time period, it appears doable that the Greenback Index could stay excessive, and even improve a bit extra after having fallen final week.

Nevertheless, it additionally appears doubtless that the worth of Bitcoin might rise.

In different phrases, it might not be shocking if the inverse correlation jumped once more, within the brief time period, till after the center of the month.

For instance, in 2016, when Donald Trump gained for the primary time, the Greenback Index rose till November 23, then barely fell till December 5. Nevertheless, it then rose once more from December 8 to December 20, earlier than stopping, and began a decline in January that lasted 12 months.

Then again, it’s not in any respect unimaginable that from now till December 20, the worth of Bitcoin will rise, even perhaps past that legendary $100,000 so eagerly awaited by the bull and bear neighborhood of bitcoiner.

The evolution within the medium/long run

Nevertheless, if the Greenback Index have been to truly begin to decline between the top of 2024 and the start of 2025, the inverse correlation with the pattern of Bitcoin’s worth could possibly be reestablished.

In 2016/2017, for instance, the 12 months of decline within the Greenback Index corresponded nearly precisely to the second main bullrun of the BTC value, which went from lower than $1,000 to nearly $20,000 in lower than 12 months.

It must also be added that each after Trump’s first election in 2016 and after Joe Biden’s in 2020, the Greenback Index ended up falling round 90 factors, after being above 103 factors in each circumstances the earlier 12 months.

On this 2024 it has pushed past 107 factors, and if it have been to drop for virtually twelve consecutive months all the way down to the standard 90 factors, it might assist Bitcoin rise fairly a bit.

The report

To all this should be added that in November 2024 the worth of Bitcoin recorded the all-time excessive concerning the month-to-month value improve in absolute phrases (+$26,000), even when it’s not the most important month-to-month improve ever in share phrases.

Moreover, seven months after the halving, it’s marking a acquire of 129% for the reason that starting of the 12 months.

Clearly, one should not neglect that in November 2024 it additionally recorded its all-time excessive worth at round $99,600.

Though all this would possibly lead one to consider that, at this level, a retracement ought to be doable, the above-mentioned dynamic associated to the Greenback Index means that the retracement may not happen, and its run might proceed properly past $100,000.

You Might Also Like

IMF, global regulators soften stance on Bitcoin and crypto in wealth assessment standards

Blockchain Group stock up 1,400% in 6 months, bets €342M on European Bitcoin treasury

Trump’s Truth Social Takes Next Step in Launching Spot Bitcoin ETF

Why $5.4 billion in July inflows could fuel Ethereum’s biggest rally yet toward $6k

Bitcoin on-chain data just flashed critical bearish signal that CryptoQuant warns marks a verified cycle top

TAGGED:BitcoinBitcoin News
Share This Article
Facebook Twitter Copy Link
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular News

Oil and "golden cryptocurrencies" soar with the attack on Iran
Oil and “golden cryptocurrencies” soar with the attack on Iran
AvaCloud Ushers in New Era of Blockchain Privacy with Acquisition of EtraPay and Launch of Privacy Suite
AvaCloud Ushers in New Era of Blockchain Privacy with Acquisition of EtraPay and Launch of Privacy Suite
TRON's Justin Sun Debunks Binance Listing Rumors
TRON’s Justin Sun Debunks Binance Listing Rumors
Universal Health Token Debuts ‘PILLARS OF HEALTH’ NFT Collection
Universal Health Token Debuts ‘PILLARS OF HEALTH’ NFT Collection
Paragon Launches Flagship Loot-Box NFTs, Sell Out in Seconds
Paragon Launches Flagship Loot-Box NFTs, Sell Out in Seconds
Are NFTs Making a Return to Auction Houses?
Are NFTs Making a Return to Auction Houses?

You Might Also Like

Is Bitcoin still bullish or trapped in a range? key market structure at risk
Bitcoin

Is Bitcoin still bullish or trapped in a range? key market structure at risk

June 13, 2025
image
Bitcoin

Bitcoin holds near $119K as leverage decline limits chances of sharp pullback

August 20, 2025
Was this $520M Bitcoin short on Hyperliquid a setup for a massive long?
Bitcoin

Was this $520M Bitcoin short on Hyperliquid a setup for a massive long?

March 20, 2025
Bitcoin as a lifeline for Palestine and nations without a central bank
Bitcoin

Bitcoin as a lifeline for Palestine and nations without a central bank

December 18, 2024
yourcryptonewstoday yourcryptonewstoday
yourcryptonewstoday yourcryptonewstoday

"In the fast-paced world of digital finance, staying informed is essential, and we’re here to help you navigate the evolving landscape of crypto currencies, blockchain, & digital assets."

Editor Choice

IOTA Integrates With zCloak.Money to Deliver Fully On-Chain Multisig Wallets
Ethereum price weakness deepens as it flirts with $3,500 correction
Ethereum Staking Plateau Persists At Record levels As Participation Holds Steady

Subscribe

* indicates required
/* real people should not fill this in and expect good things - do not remove this or risk form bot signups */

Intuit Mailchimp

Follow Us on Socials

We use social media to react to breaking news, update supporters and share information

Twitter Linkedin Facebook
  • About Us
  • Contact Us
  • Disclaimer
  • Terms of Service
  • Privacy Policy
Reading: Value of Bitcoin again correlated to the dollar
Share
Follow US
© 2025 All Rights reserved | Protected by Your Crypto News Today
Welcome Back!

Sign in to your account

Lost your password?