Bitcoin vs DXY:
Correlation, Chart & Live Data
Bitcoin vs DXY measures the relationship between Bitcoin price and the US Dollar Index.
Historically, Bitcoin and the dollar tend to move in opposite directions. When the dollar strengthens, Bitcoin often weakens. When the dollar weakens, Bitcoin often rises.
Live Bitcoin vs DXY Data
Compare the latest US Dollar Index value with the current Bitcoin price to track the inverse relationship in live market context.
US Dollar Index (DXY)
99.32
Year to date
+1.1%
Bitcoin Price (USD)
$75,810
Year to date
-13.4%
Bitcoin vs DXY Correlation Chart
This overlay chart compares the US Dollar Index with Bitcoin price, showing how dollar strength tends to move inversely to BTC over time.
What Is DXY (US Dollar Index)?
The US Dollar Index measures the value of the US dollar against a basket of major global currencies. It is widely used as a benchmark for global dollar strength.
Euro (57.6%)
Japanese Yen (13.6%)
British Pound (11.9%)
Canadian Dollar (9.1%)
Swedish Krona (4.2%)
Swiss Franc (3.6%)
What Is Bitcoin vs DXY Correlation?
Bitcoin vs DXY correlation refers to the statistical relationship between Bitcoin price and the strength of the US dollar. This relationship is typically inverse — a stronger dollar tends to coincide with weaker Bitcoin.
Rising DXY → stronger dollar → weaker Bitcoin
Falling DXY → weaker dollar → stronger Bitcoin
Daily DXY values aligned to monthly intervals
Pearson correlation coefficient (typically negative)
Correlation varies over time
Strongest during major macro policy shifts
Why Bitcoin Moves Opposite to the Dollar
The inverse relationship between Bitcoin and the US dollar reflects several macro dynamics around liquidity, risk appetite, and currency narratives.
Dollar Liquidity
A weaker dollar often reflects looser monetary policy and increased global liquidity, which tends to support risk asset prices including Bitcoin.
Global Risk Appetite
Dollar strength is typically associated with risk-off environments. Dollar weakness aligns with risk-on conditions that favour Bitcoin.
Alternative Currency Narrative
Bitcoin is sometimes viewed as an alternative to fiat currencies, particularly during periods of dollar weakness and monetary expansion.
International Demand
A weaker dollar makes Bitcoin cheaper for investors outside the United States, increasing global demand for BTC.
Historical Examples
2020 Dollar Weakness
DXY declined significantly as the Federal Reserve cut rates and expanded its balance sheet. Bitcoin rose from around $7,000 to nearly $30,000 during this period.
2022 Dollar Strength
DXY surged to multi-decade highs as the Fed raised rates aggressively. Bitcoin declined sharply alongside other risk assets during this period.
2023–2024 Stabilisation
As the dollar found a more stable footing and rate hike expectations peaked, Bitcoin recovered alongside improving risk sentiment.
DXY, Liquidity, and Bitcoin
The relationship between Bitcoin and DXY is closely linked to global liquidity. Dollar strength often signals tighter financial conditions, while dollar weakness can indicate more accommodative conditions.
Strong dollar → tighter financial conditions
Weak dollar → looser financial conditions
Related Correlation Analysis
Related Macro Data
DXY interacts with liquidity, rates, and inflation. Use this macro-data block to build a complete picture of the forces driving Bitcoin.
Access the Data
Analyse this correlation using clean, structured datasets and a developer-friendly API.
Who Uses This Analysis?
This page is for people who track dollar cycles and want to understand how currency strength interacts with Bitcoin.
- Macro investors tracking currency cycles
- Crypto analysts studying Bitcoin drivers
- Researchers analysing financial conditions
- Developers building macro dashboards
Get Started
Start with global liquidity data, then move into M2, API access, or downloads to analyse the dollar–Bitcoin relationship yourself.