{"id":36422,"date":"2025-07-11T15:18:05","date_gmt":"2025-07-11T15:18:05","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=36422"},"modified":"2025-07-11T15:18:05","modified_gmt":"2025-07-11T15:18:05","slug":"bitcoins-rally-reflects-dollar-weakness-other-assets-highlight-the-barriers-ahead","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=36422","title":{"rendered":"Bitcoin&#8217;s Rally Reflects Dollar Weakness, Other Assets Highlight the Barriers Ahead"},"content":{"rendered":"<div>\n<p>Bitcoin BTC reached <a href=\"https:\/\/www.coindesk.com\/markets\/2025\/07\/11\/bitcoin-s-record-rally-from-usd70k-to-usd118k-a-tale-of-transition-from-wild-west-to-wall-street-like-dynamics\">an all-time high<\/a> on Thursday, and is now in price discovery above $117,000, but the largest cryptocurrency by market cap remains below earlier records set against gold, benchmark equity indexes and the British pound.<\/p>\n<p>That&#8217;s because much of the recent rally reflects the weakness of the dollar rather than any broad catalyst for crypto. The DXY index, a measure of the U.S. currency against a basket of trading partners, has <a href=\"https:\/\/www.coindesk.com\/markets\/2025\/04\/11\/dollar-index-falls-to-lowest-level-in-3-years-while-btc-remains-steady\">fallen from 110<\/a> at the start of the year to below 98. Levels <a href=\"https:\/\/www.coindesk.com\/markets\/2025\/06\/12\/dollar-index-falls-below-98-for-first-time-in-three-years-gives-room-for-crypto-run\">below 100 typically<\/a> signal dollar weakness, which is generally supportive for risk assets. <\/p>\n<p>For bitcoin to demonstrate true independent strength, it must outperform other assets too, and that&#8217;s not currently happening.<\/p>\n<p>One BTC currently equals just over 35 ounces of gold, for example, whereas the all-time high was around 40 ounces in December 2024. Similarly, bitcoin is trading at 87,000 pounds ($117,800), while the all-time high stands at 90,000 pounds. As for stocks, the ratio of bitcoin to the S&amp;P 500 and Nasdaq 100 also remains below historical peaks.<\/p>\n<p>These levels represent long-term resistance zones. Once bitcoin decisively breaks through them, then true price discovery can begin. Without looking at bitcoin in relation to major assets other than the dollar, it&#8217;s hard to assess how it is really performing.<\/p>\n<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/cdn.sanity.io\/images\/s3y3vcno\/production\/d68230a34fd6f0d4f9dd3ccc9facf82f2f98e2ff-1651x947.png?auto=format\" alt=\"BTCGBP (TradingView)\" title=\"BTCGBP (TradingView)\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin BTC reached an all-time high on Thursday, and is now in price discovery above $117,000, but the largest cryptocurrency by market cap remains below earlier records set against gold, benchmark equity indexes and the British pound. That&#8217;s because much of the recent rally reflects the weakness of the dollar rather than any broad catalyst [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-36422","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/36422","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=36422"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/36422\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=36422"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=36422"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=36422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}