Bitcoin (BTC) investors reeling from the shock of recent cryptocurrency company failures and banking issues may face another potential problem: a recovering United States dollar.
Notably, the U.S. Dollar Index (DXY), which tracks the greenback’s performance against a basket of top foreign currencies, has risen 4% from its Feb. 3 low of 100.82, amid anticipations that the U.S. Federal Reserve will continue raising benchmark rates to cool inflation.