Bitcoin: Dollar Rally Exposes BTC Weakness Since 2015
Bitcoin shows worst relative strength vs dollar rally since May, underperforming every cycle since 2015 per Glassnode, with BTC at $63110.41 on 4h chart.
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The dollar has been rallying since May, and BTC is taking it worse than almost any dollar rally on record, according to Glassnode. Across every dollar rally since 2015, bitcoin showed significantly more relative strength, making a flip of this relationship a positive signal for crypto market correlation with usd.
Price action at $63110.41 sits below EMA50 resistance at $64071.62 and EMA200 at $63850.13 on the 4h chart, confirming bearish trend structure while MACD death cross at -361.41 keeps momentum negative and RSI at 39.85 holds neutral inside the Bollinger band with upper resistance at $65263.35; this confluence points to continued pressure until a sustained break above the 50-EMA support zone.
Traders tracking historical btc performance now watch for any reversal in dollar strength to reset BTC price prediction models and ease crypto market technical analysis headwinds.
glassnode
@glassnodeWorld leading onchain & financial metrics, charts, data & insights for #Bitcoin & digital assets.
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