Cryptocurrency analyst Justin Bennett, Bitcoin $93,885.9He warned that the value of (BTC) could experience a significant decline. Bennett stated in his post on the social media platform
USDT Dominance and Bitcoin Price
According to Bennett, when Tether’s dominance rate increases to between 4.7% and 5%, Bitcoin may decline to $85,000. If this level is exceeded, a major correction is expected in the cryptocurrency market.
Bennett stated that once Tether’s dominance level reaches this range, BTC may decline. The expert predicts that the bottom levels in the market will only be possible when Tether’s dominance rate reaches the determined target.
Bennett’s Decline Predictions and Market Dynamics
Bitcoin is currently trading at $92,046. It experienced a 1.9% loss in value in the last 24 hours. Bennett argued that BTC will experience a significant price decline as Tether’s dominance level reaches this range. Additionally, after the USDT.D level reaches this target, it is predicted that Bitcoin could drop to $85,000.
Bennett states that market dynamics will shape future price movements. The effects of the decline in Bitcoin as the USDT.D rate increases are of great concern to cryptocurrency investors.
Additionally, the analyst pointed out that Bitcoin’s upward trend has weakened and emphasized that whales have a limited time to reverse this situation.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
