Here’s When It’ll Be Time To Flip Cautious on Crypto Markets, According to Analyst Jason Pizzino

Crypto

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 USDTs 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.

Source: Jason Pizzino/YouTube

At time of writing, USDT.D is hovering at 4.53%.

He also looks at the combined dominance of the Tether-issued stablecoin USDT plus the dominance of USDC, issued by Circle, and says the chart needs to dip below 5% to trigger explosive rallies for BTC, Ethereum (ETH) and other digital assets.

Source: Jason Pizzino/YouTube