INSUBCONTINENT EXCLUSIVE:
The current crypto market is mirroring the pattern seen in 2017 when Bitcoin posted a steady uptrend throughout the year before skyrocketing
year at $14,156, an approximate 1,255% increase from its price at the beginning of the year, according to CoinMarketCap data.However, Pal
1, the US Dollar Index (DXY) is down 8.99%, sitting at 98.77 at the time of publication, according to TradingView data
Bitcoin and the DXY are inversely correlated
When the dollar weakens, BTC becomes more attractive not just as a speculative investment but as an alternative currency.The US dollar index
is 98.774 at the time of publication
Source: TradingViewPal said macroeconomic data has likely been a primary catalyst in pushing the crypto cycle back further
that current market conditions may resemble 2020 more than 2021, suggesting the market could be in an earlier growth phase than many
of the year.Related: Bitcoin reserve, stablecoin regulations big 2025 market catalysts, says VCPal said for the market to keep expanding it
