A major increase in the price of Bitcoin (BTC), which is currently valued at $30,800, may occur as a result of the United States dollar's decline, which has now reached a 15-month low.

A well-known trader by the name of Moustache tweeted on July 11 that there are favourable conditions for Bitcoin to continue its historical price pattern.

This year, the U.S. Dollar Index (DXY) is very significant for Bitcoin, despite the fact that it no longer exhibits the same negative association with the strength of the dollar that it did in the past. However, traders' attention has been drawn to the DXY's recent moves.

The DXY is approaching the crucial support level of 100, which it has not tested for, according to data from Coin Telegraph Markets Pro and Trading View.