Source: https://cointelegraph.com/news/us-dollar-index-dxy-falls-close-to-level-that-was-followed-by-500-bitcoin-price-rallies?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

The recent drop of the Dollar Index (DXY) below 100, a level historically linked to Bitcoin bull runs, has sparked speculation about the potential impact on the cryptocurrency market. Analysts are closely monitoring the situation as trade tensions escalate and US Treasurys face sell-offs, with some suggesting that China may be working to weaken the US dollar deliberately.

A Reuters report on April 9 revealed that China's central bank has instructed state-owned lenders to reduce dollar purchases as the yuan faces downward pressure. This move includes implementing stricter checks on executing dollar purchase orders to curb speculative trades. While some analysts speculate that China's actions may be a response to recent US import tariff increases, others like Jim Bianco, president of Bianco Research, hold a