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BTC price is testing two major support zones that have historically triggered significant price rebounds.On Sunday, Tether USDt’s 60-day market cap change was down by $3.1 billion , revisiting a historically significant zone that aligned withThe only other time USDT’s market cap declined by $3 billion in 60 days was in late 2022, just as Bitcoin was carving itsWhen USDt’s market cap drops sharply, it implies liquidity withdrawal, risk-off sentiment, or forced redemptions.
“The current 60-day contraction suggests sustained capital outflows, reflecting structural tightening in crypto-native liquidity,” CryptoQuant contributor MorenoDV_“Extreme liquidity stress has historically marked opportunity, but only once selling exhaustion is confirmed.”The chart above shows that after USDT’s 60-day market cap change dropped below -$3 billion at the end of 2022, Bitcoin then climbed to above $31,000 by March 2023, a 100% rally from the $15,500 cycle bottom. Moreover, Tether’s market cap shed $1 billion over the past day, which has only occurred twice in the past. Each episode coincided with local/macro bottoms or sharp volatility in the price of Bitcoin. Major drops in USDt market cap typically reflect institutional or large-holder exits from the market, which “tend to occur at or near exhaustion rather than at the beginning of sustained downtrends,” the analyst said.Tether’s USDt stablecoin dominance reached a key resistance levelAs such, Bitcoin’s odds of bottoming in the coming weeks may rise if USDt dominance trends lower andBitcoin is also showing a familiar technical setup on the weekly chart that has coincided with macro bottoms in the past.in a recent post on X. The analyst referred to the ascending trendline support that marked the 2022 and the horizontal support zone derived from theHistorically, this combination has preceded multimonth price rebounds. Namely, the 376% BTC price rally between November 2022 and March 2024, and 380% gains in 2018-2019.Among them is former Binance business development executive Chase Guo, whoBitcoin will reach a new all-time high in 2026, due to liquidity positioning and evolving market mechanics. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
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