BTC faces downside pressure if dollar strength continues

Crypto analyst Crazzyblockk stated that Bitcoin is strongly correlated with the Nasdaq, gold, and the U.S. Dollar Index, suggesting that further dollar strength could limit BTC's upside. As of Oct. 8, the correlation coefficient for BTC with the Nasdaq was +0.42, -0.36 with the U.S. Dollar Index, and +0.51 with gold. The correlation with gold was higher than 98.9% of all 90-day observations since 2014. Periods of simultaneous correlations accounted for about 11% of total trading days since 2014, with three identified stretches: August 2020 to January 2021, September 2022 to June 2023, and since June 12, 2026. If this pattern continues, additional dollar strength could exert downward pressure on BTC, while dollar weakness could support price gains.

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