Yigit Taha OZTURK 
Bitcoin is at risk of a potential drop toward $81,500 after failing to break through a critical resistance level. The recent rise in stablecoin dominance has further strengthened this bearish scenario.
Bitcoin’s Current Situation
Bitcoin dropped 15% last week after hitting an all-time high of $108,365. The cryptocurrency is currently trading at $96,713, but analysts suggest the decline may deepen further.
Rising Tether Dominance
The USDT Dominance Index (USDT.D) measures Tether’s share in the overall cryptocurrency market. The recent rebound in this metric suggests increased demand for safe havens and potential market volatility.
According to analyst The ForexX Mindset, USDT.D has returned to support levels last seen in March. At that time, a recovery in USDT.D coincided with Bitcoin reaching a local top of $73,800.
“Beware of Deceptive Rallies”
The ForexX Mindset warns that any short-term rallies in Bitcoin’s price could be a “trap.” The analyst claims whales and dark pools may deliberately pump prices to lure retail investors, only to offload their holdings later, causing the market to crash.
Bitcoin is currently trading around $96,000, but further downside could test the above-mentioned support levels. If the price holds above the 1.618 Fib level, a rally toward $150,000 by the first half of 2025 could be possible, according to multiple analysts.
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