Bitcoin bottom at $60K? The answer might be in Tether's dominance chart

💡 DMK Insight

Tether’s market dominance is hitting a critical point, and here’s why that matters for ETH and BTC: Historically, when Tether’s dominance peaks, Bitcoin tends to rally significantly, often doubling in price. With ETH currently at $2,101.81, traders should keep a close eye on Tether’s market share as it could indicate a similar bullish phase for both BTC and ETH. If Tether’s dominance continues to rise, it may signal increased liquidity entering the market, which typically benefits altcoins like Ethereum. However, be cautious—if Tether’s dominance starts to decline, it could lead to a liquidity crunch, impacting prices negatively. Look for key resistance levels around $2,200 for ETH and $30,000 for BTC. If ETH breaks above $2,200, it could trigger further buying momentum. On the flip side, if Tether’s dominance starts to drop, it might be wise to tighten stop-loss orders to mitigate potential losses. Keep an eye on the next few weeks as market participants react to these developments.