The Dollar Index (DXY), which has been a major indicator in this bear market, has just reached a level at which the BTC price previously was just $16k. This is the real growth.

If there is one indicator of this bear market we should have all kept our eyes on, it is not the stock markets, Bitcoin, ETH or even Gold. It is the Dollar Index, which has historically been a risk-on asset and has played a big role in stock market bear runs, especially during times of the FED hiking rates. DXY is basically the complete opposite to the stock market and due to the stock market and BTC correlation it also matters for BTC.

Though admittedly, there have also been periods in this bear market where BTC was rather correlated with DXY than the stock market, but on aggregate BTC has been correlated a lot more to stock markets than the DXY.

That's how this chart gas such a significance:

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Overlaying the DXY chart on the BTC chart, a bit altered, but the main results still remain unchanged until today

The DXY had an impeccable streak of 11 straight weeks closing in the green, the chart truly looks very bullish after a false breakdown early this year. Right now DXY is at a high level of $107, this is literally the highest level since late last year and even there DXY was cooling off. It is even more interesting that BTC was trading at a mere $16k back in November 2022.

So BTC being at $27k instead of $16k while the DXY is at the same level is the real deal. This is a very positive divergence for the BTC price and just happens to show the growth we had since the peak of this bear market. Even if it may seem a bit slow and crabbish, we are moving on from the bear market and are most likely in the middle of a transition between bear and bull market. Though we can't know how long it may take.