This inverted USDT dominance chart mirrors Bitcoin's price action. Recently, USDT dominance has broken out, but it's currently battling with the 200-day moving average (blue line). My projection is that after November 5, we'll see a breakout, potentially pushing USDT dominance down to around 3.3% in Q1 2025.
Given USDT's $120B market cap, a drop from 5.2% to 3.3% could lead to an inflow of $43.85 billion into BTC and altcoins.
Given USDT's $120B market cap, a drop from 5.2% to 3.3% could lead to an inflow of $43.85 billion into BTC and altcoins.
Trade active
Just as expected, breakout and currently at resistance. Looking for a dip before a new breakout around desember 4th.Trade closed: target reached
First target reached. Larger picture can be seen here: 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.