"Dizzy investors like this, can't go up together."
The entire cryptocurrency market including Bitcoin (BTC) saw a drastic rise after the Federal Reserve (Fed) of the United States (US) announced an interest rate hike of 25 basis points yesterday.
Digital assets such as Cardano (ADA) and Solana (SOL) also jumped around 6% while Polygon (MATIC) gained 12% in the past 24 hours.
While the forecast for the US Dollar Index (DXY) is not very encouraging as analysts expect the price to plunge to $90 but it has only decreased by 0.09%, where it is currently at $101.85.
This is because DXY and BTC usually see an inverse correlation pattern* but the opposite happens when both see an increase.
*The relationship between two variables where their position is opposite to each other.
BTC price could reportedly climb higher if DXY makes a bearish move with the next target at the $92 price zone.
As of this writing, the price of BTC is still seeing upward momentum as it climbed 3.21% in the past 24 hours but is now slightly down at $23,563 while the S&P 500 index is up 1.0% today.
