Why crypto prices spike yet Dow Jones, US dollar index fall
Crypto prices rose this week as US stock indices like the Dow Jones, S&P 500, and the Russell 2000 dropped sharply. The US dollar index also had the worst performance since April, when Donald Trump announced his “reciprocal” tariffs.
Bitcoin (BTC) jumped to a record high of $111,900, while the market capitalization of all altcoins excluding Bitcoin soared to $1.29 trillion, the highest point since February this year.
The Dow Jones, which tracks 30 blue-chip companies, dropped to $41,340, down by 3.45% from its highest level this month. Other top blue-chip indices fell by over 1.2%, erasing billions of dollars in value.
The US Dollar Index, which tracks the greenback’s performance against a basket of…
