Bitcoin up 20%, seen as hedge against weaker dollar

The framing here is the story: bitcoin is being read through a macro lens rather than a crypto-native one, which is a shift in how its bid is explained. That matters most to allocators already treating dollar weakness as a portfolio problem, since it links crypto demand to currency sentiment rather than to protocol or adoption news. Whether the hedge narrative holds when the dollar stabilizes is the open question — a hedge that only works in one direction tends to be tested quickly.