U.S. dollar index retreats from 20 year highs — But will DXY topping spark a Bitcoin recovery? By Cointelegraph

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U.S. dollar index retreats from 20 year highs — But will DXY topping spark a Bitcoin recovery?

The United States (DXY) retreated broadly from its prevailing bull run in the past two weeks, dropping by up to 3.20% after hitting its two-decade high of 105.

The U.S. dollar’s correction in the last two weeks preceded twelve months of relentless buying.

DXY weekly price chart. Source: TradingView
DXY weekly price chart. Source: TradingView
weekly price chart. Source: TradingView
The IFO survey shows robust German business confidence. Source: Bloomberg
and daily price chart. Source: TradingView
daily price chart featuring its correlation with DXY and EUR/USD. Source: TradingView