BofA survey flags dollar bearish bets at over a decade high. Here's what it means for bitcoin

BofA's February survey shows investor positioning in the U.S. dollar has fallen to its most negative level since at least early 2012. What to know : Investors are more bearish on the U.S. dollar than ever, a positioning that has historically been a bullish tailwind for bitcoin because a weaker dollar tends to support risk assets. Since early 2025, bitcoin has developed an unusually positive correlation with the dollar, with their 90-day correlation reaching 0.60 even as both the dollar index and BTC have fallen. If this new link holds, a further dollar slide could hurt bitcoin, while a sharp dollar short squeeze and rebound could instead lift BTC.