Crypto Analyst Justin Bennett Warns One Factor Could Trigger Massive Bitcoin Plunge – Here’s His Target
A closely followed crypto analyst is identifying one key factor that could cause Bitcoin (BTC) to plummet all the way down to $85,000.
In a new thread on the social media platform X, crypto trader Justin Bennett tells his 115,700 followers that the next time prominent stablecoin Tether’s (USDT) dominance level (USDT.D) tests the 4.7-5% area, the crypto king will see a significant price decrease.
“BTC is starting to break down. If USDT.D tests 4.7-5%, Bitcoin into $85,000 seems appropriate.”
According to Bennett, the market won’t hit its bottom until Tether’s dominance levels reach the target area. An asset’s dominance level is the ratio between its market cap versus the market cap of the…
