According to @KobeissiLetter, the U.S. dollar index (DXY) has dropped below the 98 level for the first time since early 2022, a development that could create a favorable environment for risk assets like Bitcoin (BTC). A weakening dollar is historically correlated with easier financial conditions and increased global liquidity, which tends to benefit speculative assets such as cryptocurrencies (@KobeissiLetter). This decline is driven by several factors, including U.S. headline inflation coming in at 2.4%, slightly below the 2.5% consensus estimate, which reinforces expectations of a dovish Federal Reserve policy (@KobeissiLetter). Citing the CME FedWatch Tool, the analysis notes that markets are pricing in a 99.8% probability of a rate cut at the June Fed meeting (@KobeissiLetter). Additionally, growing narratives around de-dollarization and policy uncertainty are cited as factors eroding confidence in the dollar and accelerating its decline, potentially signaling a bullish catalyst for the crypto market (@KobeissiLetter).