Bitcoin's Recent Performance Has Sent Shockwaves

Bitcoin's recent performance has sent shockwaves through the crypto market, with retail investors who bought the token at its peak particularly bearing the brunt of this downward push.

The recent performance of Bitcoin (BTC) has sent shockwaves through the crypto market, especially for retail investors who bought the token at its peak. However, corrections in any market are healthy, and we've noticed a rare bullish signal in Bitcoin.

As we've mentioned time and time again, corrections in the market – any market – are healthy. It's best to view them as periods of consolidation, which usually set the stage for even more impressive price increases later on.

Even better, we've noticed a rare bullish signal in Bitcoin (BTC). Spoiler alert: it's one of the strongest (because it's pretty much worked every single time) technical patterns as far as $BTC is concerned.

US Dollar Strength Index (DXY) Hints at Bitcoin Reversal

First things first, it's important to understand that Bitcoin has an inverse correlation with the US Dollar Strength Index (DXY).

Simply put, Bitcoin's price increases whenever DXY is sloping downwards and vice versa.

The chart above shows that DXY decreased by over 3.4% in a single week recently. Such a rapid fall in the DXY has only occurred thrice before, and each of those instances saw $BTC shed its sluggishness and rally violently to new highs.

To further understand just how prominent this bullish signal is, let's take an in-depth look at what happened in the past – seeing as in the markets, past action is a strong predictor of future prices.

Back in 2019, the DXY dropped by 3.43% in a week, which was followed by a 108% rally in Bitcoin's price over the subsequent three months.

Later, in 2021, when the DXY decreased by 3.44% over seven days, Bitcoin went on to experience a 670% surge in just half a year.

Most recently, in 2023, the DXY saw a decline of 3.37% over a week, which was followed by a 109% rally in the Bitcoin price over the next four months.

It seems that the market is presenting a final chance to join the Bitcoin bull market.

Bitcoin’s Chart Also Screams Bullishness

In addition to an inverse relationship with DXY, Bitcoin's chart is also showing a handful of positive signs.

On the weekly chart, $BTC is taking support on the 50 EMA (Exponential Moving Average). Furthermore, it has formed a pretty neat hammer candle, which is a classic buy signal.

On the 4-hour and 1-hour timeframes, Bitcoin is hovering over the 10 & 20 EMAs, which are both sloping upwards. This is a strong indicator of an upcoming price explosion towards the upside.

If you’re looking to make the most of the forthcoming Bitcoin (and crypto) rally, here are the best new presales to buy. Since these are tokens that haven’t yet been listed, you can grab them for astonishingly cheap prices.

BTC Bull Token ($BTCBULL) – Best New Presale to Buy to Get Behind Bitcoin’s Growth

With Bitcoin finally showing some serious intentions to rally upwards, it’s worth backing a project like BTC Bull Token ($BTCBULL).

It is, after all, a meme coin that can help you maximize your earnings from Bitcoin’s growth. Here’s how: BTC Bull Token is designed to increase in price when the price of Bitcoin rises.

Also, given that BTC Bull Token works on meme coin fundamentals, it’s expected to generate better returns than Bitcoin.

Expert BTC Bull Token price predictions suggest the token could reach $0.0084 by the end of 2025.

That’s a nearly 3.5x return on your investment – provided that you get in now when the token is in presale ($3.6M+ raised) and available at some of its lowest ever prices. 1 $BTCBULL is currently selling for just $0.00241.

Get 0.00241 at BTC Bull Token

BTC Bull Token can be bought on the project’s website. Users will need to connect their wallets and complete a simple registration process to purchase the token via ETH, fiat, or card.

The token is also available on several major exchanges, including Binance, Huobi, and FTX.

Those interested in learning more about BTC Bull Token can visit the project’s website, social media channels, and Telegram group for the latest updates and news.

Solaxy ($SOLX) – First-Ever Solana Layer-2 Currently in Presale

Bitcoin might be the biggest cryptocurrency out there, but blockchain networks like Solana have occupied a significant place in the crypto economy, too.

And with Bitcoin to pull the entire crypto market along with it, an altcoin with real utility like