The dollar index rose 0.73% to 101.4 as US airstrikes on Iran pushed investors to safe havens. Bitcoin held $63-65K, with no breakout as macro dominates crypto.
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The US Dollar Index is on track for its strongest weekly performance in a month, rising 0.37% to 0.73% during the week of July 20-24. The DXY traded between 101.1 and 101.4. Investors have moved into the greenback as US airstrikes on Iran in July 2026 escalated military tensions in the Middle East.
Bitcoin held a range of $63,000 to $65,000 through mid-July. Ether and other cryptocurrencies retreated alongside equities. The same macro forces lifting the dollar have weighed on crypto.
The dollar's safe-haven rally follows a pattern seen since early 2026, when the Iran conflict first escalated. Each round of military news has strengthened the greenback. Oil price volatility has reinforced the move because global crude is priced in dollars. Higher Treasury yields have made dollar-denominated assets more attractive relative to non-yielding alternatives like Bitcoin and gold.
No major protocol upgrades or regulatory developments have emerged to drive crypto independent of macro conditions. The sector's price action remains tied to the dollar's trajectory and geopolitical headlines.
The DXY closed the week near 101.4, its highest level since late June. Crypto prices have moved in the opposite direction of the dollar this week, and that correlation has held without a breakout catalyst.
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