Crypto is breaking down while the dollar flexes muscle — short Bitcoin as the ma
Thesis
Bitcoin just dropped below $60,000, hitting its lowest level since October 2024, largely because major institutional buyers are wobbling and retail interest has dried up. Making matters worse, the US dollar just surged to a 13-month high on expectations of further Fed rate hikes, and a massive $10 billion options expiry is threatening to compound the selling pressure. Since Bitcoin is priced in dollars, a stronger dollar naturally pushes Bitcoin's price down. With institutional demand fading and macro headwinds building, the path of least resistance right now is lower.
Strategy approach
Build a trend-following strategy on D1 timeframe that enters short BTC-USD when Bitcoin makes a 20-day low while the US Dollar Index (DXY) makes a 20-day high simultaneously. Hold for up to 14 days and exit if Bitcoin bounces 5% off the entry price.