Interesting chart from Kaiko, showing the $BTC.X performance against USD since the start of the pandemic.

The USD Index (DXY), pushed above the 105 mark recently and is up over 12% YTD. Despite the prospect of a front-loaded ECB tightening, the Euro fell below $0.99 after Russia cut off key gas supplies through the Nord Stream pipeline, escalating Europe's energy

crisis. Over the past 2 years BTC's correlation with the DXY has been mostly negative and further strengthening of the DXY is likely to put some downward pressure on crypto markets and non-yield bearing assets.