A Bank of America survey from February reveals that investor bearish positions on the dollar have dropped to their lowest level since 2012, with dollar allocations at historically low levels. Traditionally, a weaker dollar benefits risk assets like Bitcoin. However, the report highlights an unusual positive correlation between Bitcoin and the dollar index since early 2025, with a 90-day correlation coefficient peaking at 0.60. Analysts suggest that if this correlation persists, further dollar declines may not benefit Bitcoin and could exert pressure on it. Conversely, a dollar rebound due to short covering might lead to a Bitcoin rise, potentially increasing market volatility.