Bitcoin’s 12-Year Relationship With the Dollar Just Broke

1 week ago 5

Sam Daodu

Fri, March 6, 2026 astatine 10:38 AM CST 7 min read

  • Bitcoin (BTC) held supra $68,000 connected March 3 with $1.5B successful ETF inflows contempt Dollar Index hitting 99.4, breaking the signifier that defined BTC for implicit a decade.

  • JPMorgan’s 2026 investigation confirms Bitcoin’s correlation with the dollar has flipped from antagonistic to affirmative for the archetypal clip since earlier 2014, meaning BTC present moves with the dollar alternatively of against it.

  • The expert who called NVIDIA successful 2010 conscionable named his apical 10 AI stocks. Get them present FREE.

The Bitcoin terms has fallen each azygous clip the dollar has rallied since 2014. When the Dollar Index spiked to 114 successful 2022, Bitcoin (CRYPTO: BTC) dropped from $47,000 to $16,000 implicit astir 11 months. The inverse narration betwixt Bitcoin and the dollar was truthful accordant that traders built full strategies astir it.

However, connected March 3, the dollar deed a three-month precocious astatine 99.4 portion the Nasdaq 100 dropped 1% and golden fell 3.6%—but Bitcoin didn't flinch, holding supra $68,000 arsenic $1.5 cardinal successful caller ETF superior flowed in.

Bitcoin showing this benignant of resilience portion the dollar surges—and stocks and golden some drop—is astir unheard of crossed its 12-year trading history. So what caused this displacement successful the Bitcoin and dollar relationship, and could this beryllium the turning constituent for a BTC recovery?

READ: The expert who called NVIDIA successful 2010 just named his apical 10 AI stocks

Bitcoin cryptocurrency coin with a golden  bullion bar. Investment concept

ARMMY PICCA / Shutterstock.com · ARMMY PICCA / Shutterstock.com

When the Fed hiked rates aggressively successful 2022, the DXY climbed to a 20-year precocious supra 114 due to the fact that superior rushed into the dollar for safety. This sucked liquidity retired of everything risky, and Bitcoin—as the astir speculative large plus astatine the time—got deed the hardest. The dollar going up wasn't truly the origin of the Bitcoin terms going down arsenic some were responding to the aforesaid thing: the Fed tightening the wealth supply.

Early 2026 has followed the aforesaid Dollar emergence signifier but the bitcoin absorption played retired otherwise this time. The DXY climbed from 96.6 to 99.4 successful 3 weeks, driven by safe-haven flows from the Iran struggle and expectations astir incoming Fed seat Kevin Warsh. Under the aged rules, this benignant of dollar spot should person dragged the Bitcoin terms lower. Instead, BTC held supra $68,000 connected the aforesaid time the Nasdaq 100 fell 1% and golden dropped 3.6%.

Bitcoin besides pulled distant from tech stocks during the aforesaid stretch. The 30-day correlation betwixt Bitcoin and the Nasdaq 100 dropped from 92% to 69%, aft spending astir of 2025 moving astir successful lockstep with equities. Bitcoin and stocks are decoupling astatine the aforesaid clip Bitcoin and the dollar stopped moving successful other directions.

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