DXY bounces at major support, reducing Bitcoin’s chance at breaking the $17.2K resistance By Cointelegraph

On Dec. 2, the United States (DXY), an index that measures the dollar’s strength against a basket of top foreign currencies, reached 104.40 which was the lowest level seen in 5 months.

To recap, the U.S. dollar’s weight against the basket of top foreign currencies grew by 19.6% in 2022 until late September as investors looked for protection against the impact of a hawkish Federal Reserve and, more recently, the rising energy costs and effect of high inflation.