Bitcoin Price To $95,000? Here’s What Needs To Happen First

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Related Reading: BTC Held On Exchanges Hits Lowest Point In 5 Five Years, Here’s What It Means For Bitcoin Price In the case of TheSignalyst’s analysis, the USDT dominance breaking below 5.2% would signal reduced reliance on the stablecoin and a renewed appetite for riskier assets, paving the way for Bitcoin to embark on a more aggressive upward trajectory.  According to the analyst, if this scenario unfolds, it could enable Bitcoin’s price to break past the $70,300 mark in the weekly timeframe.

Interesting Take On Bitcoin Price Outlook The analyst in question, known as TheSignalyst, takes an unconventional approach to analyzing Bitcoin’s price movement by relying on a lesser-known but intriguing metric.  Related Reading: XRP Price Prediction: Analysts Turn Bullish As Something Big Is Coming’, Here’s What According to TheSignalyst, the USDT.

As the analyst noted, as long as USDT dominance remains within the descending triangle, Bitcoin’s price is likely to continue consolidating in a range.

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Article Details

Author / Journalist: Scott Matherson

Category: Crypto

Markets: United KingdomSouth Korea

Topics: Bitcoin news Bitcoin price Crypto news Analyst Bitcoin Btcusd Bitcoin Btc BTC news Crypto BTCUSDT Crypto analyst Btc price

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-18 @ 10:00:53 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 457 words

Reading Time: 3 minutes read

Sentences: 66 lines

Sentence Length: 7 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 23118366

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About NewsBTC

Main Topics: Crypto

Official Website: newsbtc.com

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