In a latest development, cryptocurrency analyst Crypto Rover has issued a bullish message in a recent X post.
The analyst shared to his 1 million followers on X that every time the USDT dominance gets this high during a bull market. He noted that this signals a massive Bitcoin and Altcoin buying opportunity. Notably, he encouraged his followers as he advises to “BUY THE DIP!”
As of writing, the Bitcoin dominance stands at 58.11%, Ethereum Dominance at 12.25% and USDT’s dominance currently stands at 4.31%.
Notably, despite short term bearish signals, the long-term outlook for bitcoin remains bullish from a technical perspective after the post-election breakout in November. Also, a Bitcoin price dip in Q1 2025 could be a good opportunity to buy before its next rise later in the year.
Bitcoin’s recent price correction was likely caused by concerns over the US Federal Reserve’s tightening monetary policy, which could influence Bitcoin’s price in 2025. The price briefly surpassed the $100,000 mark on January 7 before correcting to $92,500.
Prominent on chain analyst Ali Martinez highlighted that Bitcoin has fallen below a key demand zone at $95,400–$98,400, where 1.77 million addresses acquired over 1.53 million $BTC.
He noted that a surge in selling pressure could trigger a sharp decline pushing Bitcoin below $92,000. He believes that the current market conditions, from a macro perspective, are reigniting fears of a potential Bitcoin crash. He noted that to avoid a bearish outlook, Bitcoin must reclaim $100,000 and aim for new all-time highs.
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