What USDT dominance is telling us about Bitcoin’s price
Tether (USDT) has recently experienced sustained capital inflows, with the stablecoin hitting historic market cap levels. While such a trend is historically positive for the crypto market, Analysis suggests that this momentum may not be ideal for Bitcoin (BTC). Specifically, USDT dominance has been rising, a factor that could signal a possible reversal in Bitcoin’s price, which is attempting to breach the $70,000 spot and possibly target a new all-time high, according to an Analysis by Alan Santana shared in a TradingView post on October 26. USDT market dominace chart. Source: TradingView It is worth noting that Tether’s dominance highlights the market share of USDT among all cryptocurrencies. The metric is a barometer for market sentiment and liquidity flow between stablecoins and other assets like Bitcoin. Picks for you ...