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Analyst Justin Bennett Unveils Challenge Facing Bitcoin Bulls, Says One Factor To Determine BTC Direction

A closely followed crypto analyst says one key metric indicates Bitcoin (BTC) may have a hard time breaking out anytime soon.

In a new thread, crypto trader Justin Bennett tells his 115,800 followers on the social media platform X that the Tether dominance chart (USDT.D) is flashing bearish for Bitcoin.

Many traders closely watch the USDT.D chart as it shows how much of the crypto market cap is comprised of the stablecoin USDT.

A bullish USDT.D chart is generally considered bearish for Bitcoin and other cryptocurrencies as it indicates traders are unloading their crypto holdings in favor of the stablecoin.

Analyst Justin Bennett Unveils Challenge Facing Bitcoin Bulls, Says One Factor To Determine BTC Direction

A closely followed crypto analyst says one key metric indicates Bitcoin (BTC) may have a hard time breaking out anytime soon.

In a new thread, crypto trader Justin Bennett tells his 115,800 followers on the social media platform X that the Tether dominance chart (USDT.D) is flashing bearish for Bitcoin.

Many traders closely watch the USDT.D chart as it shows how much of the crypto market cap is comprised of the stablecoin USDT.

A bullish USDT.D chart is generally considered bearish for Bitcoin and other cryptocurrencies as it indicates traders are unloading their crypto holdings in favor of the stablecoin.

https://dailyhodl.com/2025/02/15/analyst-justin-bennett-unveils-challenge-facing-bitcoin-bulls-says-one-factor-to-determine-btc-direction/