A weaker dollar often becomes a tailwind to risk assets, including bitcoin, as occurred in the second half of 2020 and early 2021. The greenback is a global reserve currency, playing an outsized role in global trade and non-bank borrowing. When the dollar strengthens, it causes financial tightening worldwide, disincentivizing risk-taking. The opposite is true when it weakens.
Bitcoin (BTC) Mining Cost Estimate Drops to $45K as Inefficient Miners Exit: JPMorgan
“The boost from Runes proves short-lived, however, with users' activity and fees dropping dramatically over the past week or two,”...