A popular signal that confirms sustained bullish shifts in market momentum just appeared on the dominance chart for Tether’s USDT, the world’s largest stablecoin by market capitalization.
That may not be good news for bitcoin , the largest cryptocurrency.
USDT’s dominance rate, which measures its share of the total crypto market cap, is sporting a golden crossover, a technical signal that indicates the dollar-pegged token’s allocation may increase in the weeks ahead.
That’s a negative signal for bitcoin because it implies crypto market participants are shifting their funds into a token whose value doesn’t fluctuate against the dollar, rather than piling into riskier investments.
To understand why, it helps first to grasp USDT’s…
