Bitcoin Price To $150,000: Why The USDT Dominance Plays An Important Role
Bitcoin has extended its consolidation below $100,000 since the beginning of February. This price lag has been compounded by a slowdown in bullish sentiment among investors and a slowing euphoria regarding the crypto-positive influences of Trump’s new administration in the US. Despite this rally slowdown, technical analysis continues to support a bullish long-term outlook for Bitcoin. The current stagnation appears to be a re-accumulation phase for bullish investors; a pattern observed multiple times before major upward moves this cycle. Furthermore, analysis shows that the USDT dominance....
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Data shows the top stablecoin USDT has lost some dominance following the collapse of UST. While other coins like USDC and BUSD have observed rather sharp growth. USDT Has Shed Around $10 Billion Reserves After UST’s Collapse A stablecoin is a token whose value is pegged to another currency or commodity. The most popular such […]
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The 50 billionth USDT token has been minted, Tether has confirmed. The market capitalization of Tether (USDT), the world’s largest stablecoin, zipped past $50 billion on Monday, in a sign that the cryptocurrency bull market was still heating up. Tether Operations Limited confirmed the milestone on Friday, with roughly 50 billion USDT now reported to be in circulation. Tether’s supply, and hence its market cap, has grown by more than a factor of 10 over the last 12 months. That includes 25% growth in the span of a month. As a dollar-backed stablecoin, one USDT is equivalent to $1 in assets....
Bitcoin is seeing an uptick following its recent reclaim above the $60,000 mark in the past day. Amid this price performance, renowned crypto analyst Mags on Elon Musk’s social media platform X shared his latest asset analysis. According to Mags, Bitcoin could be poised for a major rally, driven by factors related to the USDT dominance (USDT.D) and the forming technical chart patterns. Related Reading: September 10: A Bitcoin Game Changer, Says Hedge Fund Founder Bitcoin On The Verge Of A $72,000 Rally? Mags explained that the inverse correlation between USDT dominance and Bitcoin’s....
Crypto analysts have used several on-chain metrics and indicators to analyze whether or not the Bitcoin top is already in for this bull run. This time, crypto analyst Thomas has alluded to USDT’s dominance to determine Bitcoin’s market top. How USDT’s Dominance Predicts The Top For Bitcoin Thomas claimed in an X (formerly Twitter) post […]