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Bitcoin's performance remains tied to USDT dominance, according to Jason Pizzino. He observes that USDT.D, a measure of USDT's market share, is repeating a pattern from the last cycle. Pizzino points out that the only notable difference this time is a macro higher low, which he suggests is not a positive indicator for Bitcoin and altcoins over the long term.
He notes that he and his team have been monitoring this trend for more than two years.
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Pizzino’s assessment of USDT.D’s persistent influence on Bitcoin aligns with his earlier observations that the USDT.D pattern has driven market performance for over 12 months. His perspective on cyclical market behavior further builds on previous analysis of Bitcoin forming a double bottom at a critical 17-year level, underscoring the significance of historical patterns in evaluating current market dynamics.