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coinpedia 2025-01-08 18:46:50

Analyst Says Rising USDT Dominance is a Buy Signal for Bitcoin And Altcoins

The post Analyst Says Rising USDT Dominance is a Buy Signal for Bitcoin And Altcoins appeared first on Coinpedia Fintech News In a latest development, cryptocurrency analyst Crypto Rover has issued a bullish message in a recent X post. Every time the $USDT dominance gets this high during a bull market. It's a massive #Bitcoin & #Altcoin buy opportunity. BUY THE DIP! pic.twitter.com/wRvb7L1P9k — Crypto Rover (@rovercrc) January 8, 2025 The analyst shared to his 1 million followers on X that every time the USDT dominance gets this high during a bull market. He noted that this signals a massive Bitcoin and Altcoin buying opportunity. Notably, he encouraged his followers as he advises to “BUY THE DIP!” As of writing, the Bitcoin dominance stands at 58.11%, Ethereum Dominance at 12.25% and USDT’s dominance currently stands at 4.31%. Notably, despite short term bearish signals, the long-term outlook for bitcoin remains bullish from a technical perspective after the post-election breakout in November. Also, a Bitcoin price dip in Q1 2025 could be a good opportunity to buy before its next rise later in the year. Bitcoin back below $100,000 Bitcoin’s recent price correction was likely caused by concerns over the US Federal Reserve’s tightening monetary policy, which could influence Bitcoin’s price in 2025. The price briefly surpassed the $100,000 mark on January 7 before correcting to $92,500. Prominent on chain analyst Ali Martinez highlighted that Bitcoin has fallen below a key demand zone at $95,400–$98,400, where 1.77 million addresses acquired over 1.53 million $BTC. #Bitcoin $BTC is back below $100,000! Now what?? Let's dive in — Ali (@ali_charts) January 8, 2025 He noted that a surge in selling pressure could trigger a sharp decline pushing Bitcoin below $92,000. He believes that the current market conditions, from a macro perspective, are reigniting fears of a potential Bitcoin crash. He noted that to avoid a bearish outlook, Bitcoin must reclaim $100,000 and aim for new all-time highs.