DXY Macro Thesis – Wyckoff Re-Accumulation Before Global RiskU.S. Dollar Currency IndexTVC:DXYJavierXBT💵 DXY Macro Thesis – Wyckoff Re-Accumulation Before Global Risk Unwind The U.S. Dollar Index (DXY) has been forming a multi-year Wyckoff re-accumulation structure since late 2023, following the broad risk-on cycle that stretched across BTC, gold, and equities. After completing a Spring and successful Test in the 95 – 96 region, the index now shows clear signs of Phase D emergence, suggesting the dollar is quietly preparing for its next markup phase. 🧩 Structural Context Phase A–C (2023 – 2025): Composite operator absorbed liquidity from over-extended risk assets while DXY built a broad base between 92 – 104. Phase D (Current): We’re witnessing the Last Point of Support (LPS) formation around 99–100 — strengthening price structure, decreasing volatility, and the first signs of demand dominance. Phase E (Next): Expected breakout and markup toward upper-range resistance zones. 📊 Technical + Macro Alignment ZoneFunctionCommentary 98.6 – 100.8Re-accumulation axis. Current control range; sustained closes above 100.82 = Phase D confirmation 105.9 – 108.0Mid-range objectiveDealer hedging likely shifts positive Gamma → supports sustained advance 110 – 114Primary target zoneHistoric supply band; aligns with USD liquidity tightening & global risk-off acceleration 116 – 123Buying climax / terminal rallyFinal markup phase before next global rebalancing cycle. 🌐 Macro Narrative This re-accumulation in DXY likely coincides with the early-stage unwind of speculative excess across BTC, gold, and global equities. As liquidity rotates back into the dollar and short-dated yields stay elevated, risk assets face compression while USD strength re-emerges. Stablecoin dominance metrics (USDT.D + USDC.D) have begun climbing again > 7.8 %, confirming risk-off capital rotation consistent with the early stages of a macro tightening leg. 🎯 Outlook ✅ Base case: Phase D markup resumes → targets 110–114, then potential buying climax 116–123 into 2026. ⚖️ Alternate: Range extension 98.6–100.8 through Q1 2026 (continuing absorption). ❌ Invalidation: Weekly close < 98.6 opens redistribution toward 95 → 92.6.