According to @DowdEdward, the U.S. Dollar Index (DXY) may have set a major cycle low while long-duration Treasuries (TLT) could rally as yields fall, reflecting a global growth scare being priced in, with major equity indices including the SPX likely to catch up to this shift, source: @DowdEdward on X (Oct 14, 2025). A stronger dollar has historically pressured crypto risk assets, with BTC and ETH often showing negative correlation to DXY during risk-off periods, source: Kaiko Research. If Treasury prices rise and yields decline, that inverse relationship aligns with bond market mechanics, source: U.S. Department of the Treasury. Dollar appreciation tends to tighten global financial conditions and weigh on cross-border risk-taking, a setup that can curb crypto liquidity, source: IMF Global Financial Stability Report. Macro-crypto desks commonly track DXY and U.S. yields as key drivers of digital asset flows and risk appetite, making these indicators critical for BTC and ETH positioning, source: Fidelity Digital Assets.