Bitcoin, dollar move in near-perfect opposition. It hasn't been this extreme in almost 4 years.

Bitcoin’s short-term price moves are now moving almost perfectly opposite the U.S. Dollar Index: the 30-day correlation is -0.90 (R² ≈ 0.81), the most negative reading since 2022. The rebound in the dollar (DXY bounced to 98.75 from a recent 97.63 low) has coincided with bitcoin’s rally stalling after highs above $79,000, even as U.S. spot BTC ETFs continue to attract inflows. Market participants remain cautious — SkyBridge’s Anthony Scaramucci said a meaningful recovery may not arrive until October–November — while ether is underperforming bitcoin: the ETH/BTC ratio fell ~3% to 0.02965, breaking short-term bullish channels. Overall, the note highlights a strong dollar-BTC linkage and mixed near-term prospects for crypto despite ETF-driven support.