The Stablecoin Dominance Pattern

Stablecoin dominance (USDT + USDC) exploded from 8.5% to 12.5% after sweeping prior highs, exactly as Cowen predicted two months ago when Bitcoin traded above $90,000. 

The current pullback in stablecoin dominance mirrors patterns seen in Bitcoin dominance, palladium, and the Hang Seng Index over the past four years.

“When I look at stablecoin dominance, I would have to say objectively, it’s hard to say that this won’t just be a higher low,” Cowen said. 

“If it takes out the low, then I’m wrong. But for now, this simply looks like what we’ve previously seen in other markets that exhibited a very similar pattern,” he added.

The pattern works…

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