BofA Survey: US Dollar Short Positions Drop to Lowest Since 2012, Bitcoin Now Showing Unusual Positive Correlation with the Dollar

BlockBeats News, February 17th: A February survey by Bank of America (BofA) showed that investors' bearish position on the dollar has dropped to the lowest level since 2012, with dollar allocation at a historically low level. Traditionally, a weaker dollar is usually positive for risk assets such as Bitcoin, but the report pointed out that since early 2025, Bitcoin has shown an unusually positive correlation with the Dollar Index, with the 90-day correlation coefficient peaking at 0.60.

Analysts believe that if this correlation continues, a further decline in the dollar may not necessarily benefit Bitcoin and could instead create pressure on it; conversely, if the dollar rebounds due to short covering, Bitcoin may rise with it, and market volatility may increase significantly. (CoinDesk)