BTC price, U.S. dollar move in near-perfect opposition. It hasn't been this extreme in almost 4 years.
By Omkar Godbole
Published on April 24, 2026.
Bitcoin's price and the U.S. dollar have been in near perfect opposition for nearly four years. The 30-day correlation coefficient between the two now stands at -0.90, the most negative reading since September 2022. This indicates an inverse relationship between bitcoin and the dollar, when the dollar weakens, bitcoin gains. However, this reading can be influenced by bitcoin's 24/7 trading structure. The outlook for the Dollar Index is also supported by elevated oil prices tied to the Strait of Hormuz disruptions and a continued U-S.-Iran standoff over ceasefire negotiations. Despite sustained inflows into the U.-S.-listed spot exchange-traded funds (ETFs) keeping prices supported, industry leaders are taking a cautious approach. The price of bitcoin has stalled since its highs above $79,000 on Wednesday.
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