Bitcoin Holds Near $84,600 as Dollar Index Breaks Above 101

Bitcoin has staged one of its strongest multi-week rallies in recent history, climbing from around $63,000 at the start of August to a peak near $87,000 before settling at roughly $84,600.

This unusual move is notable not just for its scale but also because it's happening simultaneously with a sharp rebound in the US dollar index, which has pushed back above 101.00 after spending much of the summer in retreat.

Market analysts attribute this alignment to increased risk appetite, institutional flows into digital assets, and Bitcoin-specific catalysts, which are temporarily outweighing the traditional inverse relationship between the dollar and crypto.