美元指数（DXY）在近40年内达到了最严重的低迷，尤其是比特币，飙升。是什么推动了这种反关系？

Dollar Index Plunges to Decades-Low: Crypto Prices Soar!

美元指数跌至几十年：加密价格飙升！

The U.S. Dollar Index (DXY) has experienced its most significant six-month drop in almost four decades, bottoming near 98.6. This decline has triggered a rally in crypto markets, with Bitcoin and other major cryptocurrencies seeing substantial gains.

美元指数（DXY）在近四十年中经历了最显着的六个月下降，接近98.6。这种下降引发了加密货币市场的集会，比特币和其他主要加密货币看到了可观的增长。

The Dollar's Downfall: A Perfect Storm

美元的失败：一场完美的风暴

Several factors are contributing to the dollar's weakness. Easing inflation, steady Federal Reserve policy (holding rates at 4.25–4.50%), and ongoing geopolitical unrest have all played a role. The dollar's slump reflects softer inflation, strong Fed rate-cut expectations, and political uncertainty. With no rate hikes expected, the dollar's yield edge has diminished, weakening its appeal to investors.

几个因素导致了美元的弱点。缓解通货膨胀，稳定的美联储政策（持有率为4.25–4.50％）以及持续的地缘政治动荡都发挥了作用。美元的低迷反映了通货膨胀率更高，美联储率降低的期望和政治不确定性。由于预计不会加息，美元的收益优势已经下降，从而削弱了对投资者的吸引力。

Crypto's Rise: Riding the Wave

加密的崛起：骑波浪

As the dollar weakens, financial conditions ease, boosting global liquidity and benefiting risk assets like cryptocurrencies. Bitcoin has been a major beneficiary, hovering around $106,000, while Ethereum is near $2,554. The total crypto market capitalization stands at roughly $3.4 trillion, showcasing strong year-to-date gains across major coins.

随着美元的削弱，财务状况的轻松，提高了全球流动性并受益于加密货币等风险资产。比特币一直是主要受益人，徘徊在106,000美元左右，而以太坊的价格接近2,554美元。加密货币总资本化约为3.4万亿美元，在主要硬币中展示了大量的年度增长。

Bitcoin's Bullish Momentum

比特币的看涨势头

Analysts explain that a weak dollar effectively eases global liquidity – funds flow out of cash and into stocks, commodities and crypto. Many crypto traders are betting that a weaker greenback will lift Bitcoin’s appeal. Bitcoin's on-balance volume (OBV) – a measure of buying pressure – has risen steadily even as price consolidates. A confirmed bull flag breakout could send Bitcoin toward $130,000–$135,000 by Q3 2025.

分析人士解释说，薄弱的美元有效地减轻了全球流动性 - 资金从现金中流入股票，商品和加密货币。许多加密货币交易员敢说，较弱的绿背会提高比特币的吸引力。即使价格合并，比特币的体积量（OVER）也稳步上升。确认的公牛旗突破可能会使比特币达到130,000美元至135,000美元的$ 135,000。

Expert Opinions and Future Outlook

专家意见和未来前景

Galaxy Digital CEO Mike Novogratz expects Bitcoin to reach $130K–150K in the coming months, driven by institutional flows and a weaker dollar. In Novogratz’s view, the dollar’s fall removes a headwind for crypto prices, allowing capital to pour in. Ether has similarly benefited, buoyed by continued institutional investment and its own catalysts such as protocol upgrades. Other top altcoins like Solana, Ripple and Cardano have also seen solid gains.

Galaxy Digital CEO Mike Novogratz预计比特币在未来几个月内将达到13万澳元至15万美元，这是由机构流动和较弱的美元驱动的。在诺维格拉茨（Novogratz）看来，美元的跌倒消除了加密货币价格的逆风，允许资本投入。以太同样受益，受益于持续的机构投资及其自己的催化剂，例如协议升级。 Solana，Ripple和Cardano等其他顶级山寨币也获得了稳固的收益。

The Inverse Correlation: A Clear Trend

逆相关性：明确的趋势

The inverse correlation between the Dollar Index and crypto prices is becoming increasingly clear. When the DXY trades above 100, markets are often risk-off, weighing on equities and crypto prices. Conversely, the recent slide below 98 is triggering the opposite reaction, with crypto markets rallying amid the dollar’s decline.

美元指数与加密价格之间的反相关性越来越明显。当DXY交易以上100以上时，市场通常会冒险，权衡股票和加密价格。相反，最近98次低于98的幻灯片触发了相反的反应，而加密货币市场则在美元下降的情况下集会。

So, what does all this mean? Well, buckle up, buttercup! It seems like the stars are aligning for crypto. With the dollar taking a nosedive, it might just be time to ride the Bitcoin wave. Who knows, maybe we'll all be sipping Mai Tais on our Lambo yachts sooner than we think!

那么，这意味着什么？好吧，扣紧，buttercup！似乎星星正对着加密货币。随着美元的鼻子，可能是时候骑比特币浪潮了。谁知道，也许我们所有人都比我们想象的要早就在我们的兰博游艇上品尝迈尔·泰斯！