2023-11-06 07:04:49

Here's the Most Bullish Signal Now Flashing for Bitcoin and Crypto Markets, According to Analyst Justin Bennett - The...

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The Daily Hodl
By Daily Hodl Staff

A popular crypto strategist says that one chart could foreshadow bullish continuations for Bitcoin (BTC) and the rest of the crypto markets.

Analyst Justin Bennett tells his 110,600 Twitter followers that the Tether dominance chart (USDT.D) is on the verge of violating the diagonal support that has kept the metric in an uptrend since November 2021.

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Traders often keep an eye on the USDT.D chart as it shows how much of the crypto market cap is comprised of stablecoin Tether (USDT). A bearish USDT.D chart is traditionally interpreted as bullish for Bitcoin and crypto as it indicates that traders are parting with their stablecoins to take risk.

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