Because:

BTC is most often paired with USD and USD-based stablecoins like Tether

Global liquidity primarily uses the United States Dollar

Interest rate policies from the Federal Reserve greatly influence the flow of money into crypto For example:

Interest rates decrease

➝ "cheap" money

➝ investors are willing to enter BTC

Interest rates increase ➝ Dollar strengthens ➝ BTC often feels pressure

So it doesn't mean BTC literally "eats" dollars 😆

But BTC thrives on Dollar liquidity.

$BTC

BTC

68,240

+3.48%