Crypto Analyst Warns Of Bitcoin Downturn, Cites Tether Trends
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Benzinga
Benzinga
Cryptocurrency analyst Justin Bennett has warned about a possible downturn in Bitcoin’s (CRYPTO: BTC) value. Last Friday, in a post on X, formerly Twitter, Bennett suggested that Bitcoin may not have reached its market bottom yet. His prediction was based on the Tether dominance chart (CRYPTO: USDT), which he believes is a crucial indicator for forecasting Bitcoin’s trajectory. “The bottom is not in for BTC IMO (in my opinion). Maybe we see a mid $44,000 retest, but even markets like Tether dominance USDT.D are signaling another leg lower. This moves inversely to Bitcoin,†he said. The USDT ch…