In a recent newsletter by renowned analyst CryptoCon, a groundbreaking indicator known as the “Bitcoin DXY correlation coefficient” has captured the attention of the community. This indicator, which measures the correlation between Bitcoin and the U.S. Dollar Index (DXY), has shown remarkable accuracy in predicting Bitcoin’s price movements and signaling the beginning of bull market parabolas.
According to CryptoCon, the Bitcoin DXY correlation coefficient is “one of the most interesting finds” he has come across in quite some time. In his newsletter, he explains the significance of this indicator and its implications for the future of Bitcoin’s price trajectory.
Bitcoin At Onset Of A Bull Market Parabola?
The analyst highlights the three distinct phases that the correlation coefficient enters during a market cycle. He states, “During a given market cycle, the correlation coefficient enters this zone in 3 phases.” These phases are represented by different colors:
PURPLE
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