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Bitcoin analyst warns 'huge dump' amid recovering stablecoin dominance

The rebound suggested a flight to safety as traders shifted capital into Tether, likely anticipating increased market volatility or downside pressure. The ForexX Mindset sees similar Bitcoin declines in the making, asking traders to ignore any short-term price gains.

“We’ll probably see a sharp spike in price — that’s the pump — which might fool people into thinking the market is about to take off,” the analyst said, adding:

“But don’t trust it. This is a trap. Right after that spike, a huge dump is coming, and anyone who jumps in too soon could get wiped out.”

Read More:

Bitcoin analyst warns 'huge dump' amid recovering stablecoin dominance

The rebound suggested a flight to safety as traders shifted capital into Tether, likely anticipating increased market volatility or downside pressure. The ForexX Mindset sees similar Bitcoin declines in the making, asking traders to ignore any short-term price gains.

“We’ll probably see a sharp spike in price — that’s the pump — which might fool people into thinking the market is about to take off,” the analyst said, adding:

“But don’t trust it. This is a trap. Right after that spike, a huge dump is coming, and anyone who jumps in too soon could get wiped out.”

Read More: https://cointelegraph.com/news/bitcoin-analyst-warns-huge-dump-amid-recovering-stablecoin-dominance