The Dollar Index (DXY) has dropped below 98 for the first time since early 2022, indicating a significant shift in global currency dynamics. The decline, attributed to US headline inflation at 2.4% and expectations for a dovish shift in monetary policy, could create a favorable environment for risk assets, including cryptocurrencies. Markets are pricing in a 99.8% probability of a rate cut at the June Federal Reserve meeting, reflecting growing concerns over dollar confidence amid narratives of de-dollarization and policy uncertainty.