Analysis indicates that BTC and the US dollar are strengthening simultaneously, attracting market attention. The recent key resistance level may be at $74,000.

GateNews

2026-03-05 12:27:17

BTC1.23%

ChainCatcher reports that, according to market sources, Bitcoin is currently approaching the key resistance level of $74,000, with a total increase of over 10% since the outbreak of Middle East conflicts. Notably, this rally occurs amid a decline in global stock market risk appetite and a strengthening of the US dollar.

The US Dollar Index (DXY) has risen over 1% this week and reached 99.68 on Wednesday, the highest since November last year. Historically, Bitcoin has often been negatively correlated with the dollar, but since Trump’s victory in the 2024 election and his pro-cryptocurrency policies, the two have frequently moved in tandem.

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