Weak Dollar Drives Gold, Leaves Bitcoin Behind

The US Dollar Index dropped to 97.17, a 0.4% decrease, but this did not benefit Bitcoin, which fell over 6% in the past week to around $87,000.
CryptoQuant analysts attribute Bitcoin's lack of response to the dollar drop to market fear rather than growth or easy money. Capital is moving to gold, not risk assets like Bitcoin.
Historically, Bitcoin rose with a stable dollar, hitting $100,000-$120,000 when DXY was around 100. Currently, as DXY falls, Bitcoin retreats due to risk aversion.
The Coinbase Premium Index remains negative, indicating low spot demand in the US and consistent sell pressure on US exchanges compared to offshore platforms.
Bitcoin trades below its 21-week moving average of $96,000, often signaling potential further declines. The range for Bitcoin is projected between $121,000 (bullish) and $70,000 (bearish).