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You can know that the US dollar has been pummailed this year.
DXY index-Greenback prices against a basket of currencies-is 12% below January, practically eradicating all its benefits in the last five years.
Di, dxy is its ProblemIt is heavy towards the exchange rate of the dollar in Europe, over half of its weight is assigned to the Euro, as well as 20% either British pounds, the Swedish Krone and Swiss Frank have spread unevenly.
The Japanese yen is the only painted currency from Asia, with about 14%. The Renminbi is completely excluded, and the US dollar is only 2.5% below the yuan since mid -January.
As you can see, it gets disturbed quickly. Bitcoin is about 12% in the last six months, while DXY is below the same percentage. Does it mean about bitcoin?
Well, whether it is more than five years, three or one, BTC/USD is performing better than major assets and benchmarks.
Bitcoin (price in US dollars) is beating crude oil, gold, S&P 500 and Nasdaq 100.
Instead see the price of bitcoin, each of them lies in large companies. It is the same how we will measure the price of Eth in BTC words with the Eth/BTC ratio.
The ratio of bitcoin with S&P 500, Nasdaq 100 and crude oil was at the top of May, and we are still shy with all three.
It corresponds to the current US dollar (not dxy in terms of raw dollars) of bitcoin, only 2% less than a new price record.
However, the gold/bitcoin ratio, Christmas is about 20% from a week to a week from 2024.
But what would happen without something to celebrate this newspaper?
When Bitcoin hit $ 110,500 before this morning, on the coinbase, it was actually an all-time high against DXY-1139.58-My end was about 2% more than the previous peak at the end of May.
A minor victory, looking at the flaws of DXY. But one win is a win.
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