Crypto Analyst Justin Bennett Warns One Factor Could Trigger Massive Bitcoin Plunge – Here’s His Target
A closely followed crypto analyst is identifying one key factor that could cause Bitcoin ( BTC ) to plummet all the way down to $85,000.
In a new thread on the social media platform X, crypto trader Justin Bennett tells his 115,700 followers that the next time prominent stablecoin Tether’s ( USDT ) dominance level (USDT.D) tests the 4.7-5% area, the crypto king will see a significant price decrease.
“BTC is starting to break down. If USDT.D tests 4.7-5%, Bitcoin into $85,000 seems appropriate.”
Source: Justin Bennett/X
According to Bennett, the market won’t hit its bottom until Tether’s dominance levels reach the target area. An asset’s dominance level is the ratio between its market cap versus the market cap of the entire crypto market.
“My plan hasn’t changed. I still think we’ll get Tether dominance into the 4.7-5% area before we see the crypto market bottom. Another 7% to go, give or take.”
Source: Justin Bennett/X
The crypto strategist goes on to say that USDT.D is on the rise and should hit the 4.7-5% area in the coming weeks.
“The weekly chart says it all. Note how USDT.D closed above 4.29% two weeks ago and closed above last week. As long as this is holding on a weekly closing basis, that 4.7-5% area is next.”
Source: Justin Bennett/X
According to the analyst, as of this morning, BTC bulls have just under a day and a half to turn things around.
“Bulls only have 33 hours to turn things around, which seems unlikely given today’s bloodbath from stocks. We’ll see.”
The top crypto asset by market cap is trading for $92,046 at time of writing, a 1.9% decrease during the last 24 hours.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxCheck Price Action
Follow us on X , Facebook and Telegram
Surf The Daily Hodl Mix
Featured Image: Shutterstock/Garan Julia/Aleksandr Kovalev
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Uruguay’s Energy Challenges Disrupt Tether’s $500 Million Cryptocurrency Investment
- Tether abruptly ended its $500M Uruguay Bitcoin mining project due to unsustainable energy costs and uncompetitive tariffs. - The project, initially promoted as eco-friendly, faced $4.8M in unpaid bills and regulatory challenges. - The exit highlights risks for crypto miners in regions with volatile energy markets and uncertain policies. - Tether remains interested in Latin American green energy projects despite the Uruguay setback.
Solana News Update: Solana Experiences Sharp Price Drop, Yet Institutional Investments Reflect Confidence in Its Future
- A $239M whale transfer on Solana by Forward Industries to Fireblocks Custody highlights institutional confidence amid SOL's 53% price drop since January 2025. - Upexi's $23M private placement and 40% stock decline underscore crypto exposure risks as institutional Solana ETF inflows hit $420M in November. - CME's Dec 15 SOL/XRP futures launch and Fidelity's staking ETFs signal growing institutional adoption despite Solana's $77.4B market cap decline. - Whale activity and ETF trends suggest strategic long-
Bitcoin Updates Today: U.S. Bitcoin Holdings: Advancement or Threat in the International Crypto Competition?
- U.S. Rep. Warren Davidson proposes Bitcoin tax payments and a Strategic Bitcoin Reserve to modernize tax collection and hedge against inflation. - The UK tightens crypto tax rules, aligning with global efforts to regulate digital assets amid volatility, fraud, and tax evasion concerns. - Critics warn BTC's volatility risks reserve stability, while compliance costs and environmental impacts challenge adoption despite potential $230B reserve growth by 2030. - The bill mandates KYC data for transactions and
Harley-Davidson's 33 consecutive years of dividends demonstrate strong trust from investors
- Harley-Davidson declared a $0.18/share Q4 2025 dividend, extending its 33-year uninterrupted payout streak and signaling strong investor confidence in its financial stability. - Q3 2025 results showed EPS of $3.10 (double estimates) and $1.34B revenue (surpassing $1.01B forecasts), alongside strategic debt repurchases to optimize capital structure. - UPS grounded MD-11 fleets post-crash, delaying holiday operations, while CarMax and James Hardie faced lawsuits and stock declines amid leadership changes a
Trending news
MoreCrypto prices
More
