CoinDesk
Jul 2, 2025
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Bitcoin Bulls Cautioned as Dollar Index Shows Impending Death Cross

Technical Analysis Overview by Omkar Godbole

  • Bitcoin (BTC) bulls expect continued sell-off of the U.S. dollar in H2 2023 to drive crypto prices higher.
  • Concerns arise from the dollar index's weekly chart indicating a potential death cross, where the 50-week SMA may fall below the 200-week SMA.
  • This pattern historically signals bullish trend reversals in the dollar, marking bottoms rather than prolonged declines.
  • Four previous death crosses since 2009 led to significant rallies afterward.
  • The last occurrence in January 2021 resulted in a rise from around 90 to over 114.00 by September 2022.
  • The dollar index fell 10.78% in H1 2023, its worst performance since 1991.

Dollar Index's weekly chart. (TradingView/CoinDesk)