Bitcoin Shows Strange Correlation With USD Index and Treasury Yield, What’s Ahead?

The selling pressure in Bitcoin continues to send jitters across the broader cryptocurrency market. In the last 24 hours, the BTC price has tanked another 3% going all the way lower to $63,500. A large part of the recent Bitcoin price movement comes on the backdrop of the current macro setup. Interestingly, Bitcoin has been showing a strange correlation with the Dollar Index and Treasury Yield recently.