Since mid-January, Bitcoin has experienced a significant rise of nearly 12%, coinciding with a 12% drop in the DXY index, which tracks the US dollar’s strength. This decline has resulted in nearly five years of losses for the DXY, while Bitcoin achieved a DXY-adjusted all-time high of 1139.58.
Bitcoin’s performance surpasses that of traditional assets like crude oil and gold across various timeframes. Current BTC metrics indicate it is outperforming major indices such as the S&P 500 and Nasdaq 100. If Bitcoin crosses the 115,000 USD mark, over 6 billion USD in short positions could be liquidated, highlighting its profitability.
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