💵 A falling dollar is not the crisis headlines claim

The US dollar dropped about 9% against major currencies in 2025 and lost another 1.5% in the first weeks of 2026. Media coverage frames this as a problem.

➡️ The mechanics point elsewhere. When returns fade in traditional dollar safe havens like US Treasuries, capital does not wait. It moves further out on the risk curve, including into crypto.

➡️ The last comparable dollar slide was in 2017. That year, $BTC went from roughly $1,000 to $20,000.

➡️ The market is much larger now, so broad 20x moves are unlikely. Still, if $DXY keeps sliding toward the 90 area, the pressure will show up in asset prices.

A weaker dollar is not a headwind for risk.

It tends to act like fuel.