Bitcoin Faces Challenges as Tether Dominance Remains High
- Crypto analyst Justin Bennett highlights the bearish signal for Bitcoin from the Tether dominance chart (USDT.D).
- Tether dominance has remained above its previous range highs since February 5th.
- Bennett indicates a bullish outlook for Bitcoin only if USDT.D falls below the 4.37% support level.
- USDT.D is currently at 4.47%, maintaining its support level.
- Bennett suggests Bitcoin may be poised for a short squeeze, with significant buy-side liquidity up to $100,000.
According to Justin Bennett, the Tether dominance chart’s current position above the 4.37% support level suggests caution for Bitcoin bulls, as it remains at 4.47% and indicates potential sideways or lower movement unless this support is broken.
Source (2.6)https://dailyhodl.com/2025/02/15/analyst-justin-bennett-unveils-challenge-facing-bitcoin-bulls-says-one-factor-to-determine-btc-direction/?rand=59076
