The weakening US dollar index (DYX) could serve as a catalyst for a Bitcoin (BTC) bull market revival, according to Glassnode founders Jan Happel and Yann Allemann. The founders, known as Negentropic on social media platform X, point to the DXY chart, which measures the strength of the US dollar against a weighted basket of major foreign currencies. Analysts suggest that DXY has likely reached its peak in an expanding diagonal pattern, indicating an imminent downward movement towards the lower range and potentially beyond. The Glassnode founders argue that BTC has already reached their predicted price target of $60,000, and the recent correction below this level may have paved the way for a surge to new all-time highs. They highlight BTC’s resilience as it quickly rebounds from the crucial $58,000 support level, with the relative strength index (RSI) indicating a shift towards bullish momentum. While optimism permeates the market, caution is advised, as any decline below $58,000 could derail the ongoing bull trend. At present, BTC is valued at $65,253.