Bitcoin Dislikes a Strong Dollar
ByteFolio Issue 215;
Bitcoin鈥檚 ByteTrend Score remains a 0. The price is off the lows but shows little strength. The $60k level should provide support, but there are no guarantees.
Bitcoin
On-chain activity is robust, with the number of transactions approaching new all-time highs. This provides confidence that the Bitcoin network, measured from blockchain data, is alive and well. Trading volume also remains healthy.
Bitcoin Transactions
Bitcoin continues to dominate crypto as the top 100 tokens to lag (red). The reaffirms there is no problem with Bitcoin per se, but the crypto sector remains out of favour.
Bitcoin versus Top 100
It is a matter of waiting for better times. Bitcoin doesn鈥檛 like a strong dollar, and that is upon us. I show Bitcoin with the dollar inverted. It hasn鈥檛 always worked, for example in late 2024 there was a divergence, but those were exciting times as the ETFs got underway. Since mid-2025, the dollar Bitcoin inverse correlation has been high.
Bitcoin and the Dollar
These are tough times, but I hope we have already seen the worst.
