Dollar Index Declines as Bitcoin Shows Potential for Rebound

According to Odaily, the U.S. Dollar Index (DXY) has fallen below the psychological threshold of 100, hovering near multi-year lows. Andre Dragosch, Head of European Research at asset management firm Bitwise, noted that Goldman Sachs' research suggests further downside potential for the DXY. Trader BitBull highlighted that the DXY is experiencing its fastest decline since 2023. At the beginning of 2023, Bitcoin and altcoins were rebounding from the 2022 bear market lows, with Bitcoin having bottomed out in the fourth quarter of 2022 and rising over 200% within a year. Bitcoin is expected to see a similar rebound in 2023, as optimism around Bitcoin continues to focus on the weakening momentum of the dollar.