Here’s When It’ll Be Time To Flip Cautious on Crypto Markets, According to Analyst Jason Pizzino
A widely followed crypto analyst says one stablecoin metric will likely indicate when Bitcoin (BTC) and other digital assets will enter a downtrend. In a new video update, crypto strategist Jason Pizzino tells his 351,000 YouTube subscribers that the price of Bitcoin and other crypto assets could be negatively impacted if the USDT dominance (USDT.D) chart does not soon dip below the 3.7% support level. A bullish USDT dominance, the ratio of USDT’s market cap relative to the rest of the crypto assets, is generally considered bearish for Bitcoin and other cryptocurrencies as it indicates traders are unloading their crypto holdings in favor of the stablecoin. “So over the coming months, leading into this early quarter three, perhaps, USDT dominance, if it’s still not breaking through the zone of 3.7% to 4.5%, probably a good sign to get a little cautious on your trades and not to get a bit too crazy… The reason for that is, this is where the money ...