Recent warnings indicate a potential significant decline in Bitcoin's value. Crypto expert Justin Bennett forecasts a drop of more than 8%.
What is the CME Gap?
The CME gap represents the price discrepancy between Bitcoin’s Friday close and Monday's open at the Chicago Mercantile Exchange. Bennett notes this gap could create downward pressure on Bitcoin’s price.
How Tether Affects Bitcoin’s Market
Bennett is closely monitoring Tether's market dominance, suggesting cautious market behavior. He believes Bitcoin support may emerge in March if certain levels hold.
Bennett’s Analysis and Forecast
Bennett highlights the necessity of monitoring USDT’s market share as it may indicate shifts in trading behavior. Key takeaways include a potential drop of over 8% for Bitcoin and maintaining support levels.
Bitcoin's current trajectory is influenced by technical indicators and support-resistance levels. It is crucial for market participants to stay informed and respond proactively.
