USDT dominance (USDT.D) has broken a major support level without any significant bounce, but it hasn't closed yet. It's better to wait for today's candle to close before confirming any bullish price action in BTC. A Retracment is still possible from this level, so remain cautious with open positions and keep a close eye on the candle's closing price.

USDT Dominance at Key Support Zone

USDT dominance is currently at a notable support level, signaling a possible shift of capital from cryptocurrencies into stablecoins in the short term. If the current level holds and rejects, this could point to a Short term bearish outlook for the crypto market.

In this scenario, we may see USDT dominance rise above to its previous swing low of 4.58+, followed by a sharp drop of around 2.63%. During this phase, the crypto market could experience an initial retracement (dip) before resuming its new stage of Bull RUN 📈

Caution for New Long Positions

Caution is advised when opening new long positions, especially in BTC and altcoins. To consider entering the market, BTC must either break out above 99,000 on the daily chart or revisit the key area of interest at 90,500–91,500. If these levels are confirmed, it could present an opportunity to long your favorite altcoins and BTC

#USDT。 #BTC☀️