What moves bitcoin (BTC/USD)
The forces behind the BTC/USD price.
01
Risk appetite
Bitcoin trades as a risk asset — it rallies when liquidity is loose and risk is on.
02
US Dollar & rates
A stronger dollar and higher real rates pull money out of BTC; easing does the reverse.
03
ETF flows
Spot-ETF inflows and outflows are now a primary driver of the BTC trend.
04
The halving cycle
Supply issuance halves roughly every four years, shaping the longer cycle.
05
On-chain & leverage
Exchange flows, funding rates and open interest show where positioning is stretched.
06
Liquidity & sessions
The US session and macro releases carry the cleanest BTC moves.
Common questions
Why does the dollar matter?
Bitcoin is priced in dollars, so dollar moves flow straight into BTC/USD.
What should I watch?
Rates, the dollar, and the London–NY session for the cleanest moves.
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