Crypto analyst Justin Bennett has issued a warning regarding a significant potential drop in Bitcoin’s (BTC) value. In a post on the social media platform X, Bennett highlighted that Tether‘s (USDT) dominance level testing the range of 4.7% to 5% could lead to a serious decrease in Bitcoin’s price.
USDT Dominance and Bitcoin Price
According to Bennett, if Tether’s dominance rises to the 4.7% to 5% range, Bitcoin 
$93,840 could decline to as low as $85,000. Should this threshold be crossed, a significant correction in the cryptocurrency market is anticipated.
Bennett expressed that the increase in Tether’s dominance level could trigger a downturn in BTC. He predicts that market lows will only be possible if Tether’s dominance reaches the specified target.
Bennett’s Decline Predictions and Market Dynamics
Bitcoin is currently trading at $92,046, experiencing a 1.9% loss over the last 24 hours. Bennett argues that with Tether’s dominance reaching this range, BTC could see a significant price drop, with predictions indicating a potential fall to $85,000.
Bennett notes that market dynamics will shape future price movements. The anticipated effects of a decline in Bitcoin due to rising USDT dominance are of keen interest to cryptocurrency investors.
Additionally, the analyst pointed out that Bitcoin’s upward trend is showing signs of weakness, emphasizing that whales have a limited time to reverse this situation.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
