Bitcoin
has reached a summit of all time on Thursday and is now in price discovery of more than $ 117,000, but the largest cryptocurrency by market capitalization remains below the previous files against gold, the reference shares and the British book.
Indeed, a large part of the recent rally reflects the weakness of the dollar rather than any wide catalyst of crypto. The index Dxy, a measurement of the American currency compared to a basket of trade partners, went from 110 to the beginning of the year at less than 98. The levels below 100 generally signal a weakness of the dollar, which is generally favorable to risk assets.
For Bitcoin to demonstrate a real independent force, it must also surpass other assets, and this does not currently happen.
A BTC is currently equivalent to just over 35 ounces of gold, for example, while the summit of all time was around 40 ounces in December 2024. Likewise, Bitcoin is negotiated at 87,000 pounds ($ 117,800)While the top of all time is 90,000 pounds. As for actions, the Bitcoin ratio at S&P 500 and Nasdaq 100 also remains below historical peaks.
These levels represent areas of long -term resistance. Once Bitcoin crosses them decisively, then the real discovery of prices can begin. Without looking at Bitcoin compared to the main assets other than the dollar, it is difficult to assess how it really works.
