The Dollar Index (DXY) dipping below 100 has historically aligned with Bitcoin (BTC) bull runs, delivering gains of over 500% during the last two instances. Now, as trade tensions escalate and US Treasurys face sell-offs, some analysts believe China may be actively working to weaken the US dollar. This added pressure on the dollar heightens the likelihood that it could once again serve as a catalyst for another major Bitcoin rally. Is China working to weaken the US dollar?According to an April 9 Reuters report, China's central bank has instructed state-owned lenders to "reduce dollar purchases" as the yuan faces significant downward pressure
source: https://cointelegraph.com/news/us-dollar-index-dxy-falls-close-to-level-that-was-followed-by-500-bitcoin-price-rallies?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound