The US dollar index (DXY) is experiencing one of its largest weekly declines since 2013, fuelling optimism for a potential rally among risk-on assets, including Bitcoin (BTC). The last time the DXY saw such a sharp pullback was during the height of the FTX fiasco in November 2022, which coincided with a Bitcoin bottom.
Bitcoin price is rising and now trading above $70,000 resistance zone. BTC could continue to rise toward the $73,000 and $75,000 levels in the near term.