-
Bitcoin lagging gold despite weakening dollar: A Bitcoin, gold, USD analysis
The dollar continues to get hammered. After dominating virtually every currency throughout the COVID pandemic, the DXY index, which measures the strength of the greenback against a basket of major currencies, hit a twenty-year high in Q4 of last year. Since then, however, it has shed 12.5% of its value. The fall comes as inflation continues to cool, with the most recent CPI data putting year-over-year inflation at 3%. While core inflation remains a little stickier, the market is nonetheless betting that one of the fastest rate-hiking cycles in recent history is finally coming to a close. Why did the dollar perform so ... (full story)