Is the "perfect storm" coming? Bitcoin falls below $70,000, US Dollar Index rises, and a wave of liquidations erupts.

According to CoinWorld, the US Dollar Index has rebounded from the 200-month moving average, posing a threat to the total market capitalization of cryptocurrencies. It is expected to decline by 33% to around $1.5 trillion by July, as capital is fleeing from risk assets. A broader sell-off in the technology sector and hawkish sentiment from the Federal Reserve have triggered massive deleveraging, with liquidations reaching as high as $1.43 billion within 24 hours, led by bitcoin ($736 million) and ethereum ($337 million). The sharp reversal in spot ETF inflows and the breakdown of key technical support levels have further exacerbated market vulnerability.