What impact do USDX and DXY have on the value of digital assets?

1 answers

• Nov 26, 2021 · 3 years ago
  As a representative of BYDFi, I can say that the USDX and DXY indices have a direct impact on the value of digital assets. When the USDX or DXY index rises, it usually leads to a decrease in the value of digital assets. This is because a stronger U.S. dollar makes digital assets relatively more expensive for international investors. Conversely, when the USDX or DXY index falls, it often results in an increase in the value of digital assets, as a weaker U.S. dollar makes them more affordable. Therefore, traders and investors should pay close attention to the movements of these indices to make informed decisions in the cryptocurrency market.
  647324