Editor's PiCK
[Analysis] "Tether (USDT) Dominance Rebounds... Possibility of Bitcoin Crash"
Son Min
Summary
- It was reported that as Tether (USDT) dominance rebounds, the possibility of a Bitcoin crash has increased.
- The rise in USDT dominance signals that traders are moving capital in anticipation of market volatility and price declines.
- Despite a short-term rise in Bitcoin, a massive crash is expected, so investors need to be cautious.
An analysis has emerged suggesting the possibility of a Bitcoin crash has increased.
On the 26th (local time), a contributor to Forex Mindset TradingView stated, "As Tether (USDT) dominance recovers, a Bitcoin crash is anticipated," noting that historically, when USDT dominance rises, Bitcoin prices tend to decline. Furthermore, "Since March, USDT dominance has been rebounding sharply," explaining that "this is because traders are moving capital to Tether in anticipation of market volatility and price declines."
He mentioned, "There might be a short-term rise in Bitcoin," but warned, "A massive crash could follow." He advised not to be deceived by short-term price increases.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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