After rising to 101 on April 20, the U.S. currency index (DXY), has fallen sharply. The dollar’s weakness is not helping (BTC), possibly because the S&P 500 is struggling to build upon its strong rally on April 19. It is clear that Bitcoin continues to be closely correlated with U.S. equity markets.

Research projects positive things for Bitcoin this year, despite the low price action. Insider Intelligence’s report shows that there are approximately 1.2 million bitcoin users. Adult crypto users could see a surge in U.S.From 28.3 Million in 2021, to 33.7 Mio in 2022. In addition to the increase in crypto users, the company also anticipates that U.S. adults will be using cryptocurrencies for purchases to reach 3.6 million. That’s a 70% growth.