Interesting analysis, 
I have often heard from friends that the United States is weakening and China is strengthening. It's in politics and economics. However, after I reviewed the historical data, from the 1st World War, 2nd World War, until now, the United States is still a super power for the next few decades, or more.
In the field of Dollars (USD), it's the same way. Crypto "currencies" are not currency. It's still an item of interest.
It is impossible for any country to make something that it cannot control strengthen. It will not happen. The state has an army in the military, of course it has an 'army force' in finance.
It is true that China and its currency Yuan will strengthen, but they will go their own way, they will not replace the USD (United States Dollar), or the Euro (EU currency). Seeing China rising in technology and economy with a vast territory and a large population, we must immediately look at its main rival, namely India. They are equal in all respects. They are everywhere.
A state of emergence of a super power state is the result of geopolitical changes. There have been wars throughout the ages. Until the last, the war that replaced the super power was the 2nd world war.
Now, we are witnessing a war in Ukraine. It will not escalate into a world war. We can see, in the Russian-Ukrainian war, where is the position of the United States, where is the position of Russia, where is the position of the European Union, where is the position of the United States.
Politics and military above others. In finance, too, it is representative of all things. Politics and finance are like two sides of a coin.
Thank you to 
Best Regards
Thayeb Loh Angen.
RE: The loss of Dollar sovereignty.