BTC Rally Tracks Softer USD

Bitcoin

11/08/2025

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BTC Rally Tracks Softer USD.

U.S. dollar weakness has been a clear tailwind for BTC in 2025. Year-to-date, BTC is up 26% against the USD, compared with 19% versus the KRW and roughly 10-12% against the BRL, MXN, CHF, and EUR. The divergence widened after April’s “Liberation Day” tariff announcement, which knocked the DXY roughly 5-6% lower from early April levels and catalyzed flows into alternative assets, notably Bitcoin and gold.

BTC’s rally this week is about more than just a weaker dollar. Bitcoin has pulled ahead of gold, attracted strong ETF flows, and delivered better risk-adjusted returns than both gold and equities. The focus remains on USD trading pairs, but trends in local markets and steady demand, even in the face of shifting regulations, show that Bitcoin’s market structure is growing more robust and resilient.

Read more about what’s fueling Bitcoin’s rally in our Premium Data Debrief.

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BTC Rally Tracks Softer USD.
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Written by The Kaiko Research Team
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