The worst chart for bitcoin bulls right now
CoinDesk·
60-second summary
Bitcoin's 14-year-long bullish trend in the ratio of Bitcoin's price to the US dollar index has decisively turned bearish, a concerning sign for bulls. This ratio, which had consistently favored Bitcoin, has now shifted, potentially indicating a loss of purchasing power. Market implications are uncertain, but this turn may signal a shift in investor sentiment.
For 14 years, one ratio moved only in bitcoin's favor. Now it has decisively turned the other way and bulls may not like what it means.