Today, $BTC will additionally analyze an indicator used to observe the correlation with Bitcoin's price fluctuations, called USDT.D, which refers to the market share of USDT. It has a strong negative correlation with BTC; if the USDT market share decreases, the excess stablecoins will tend to purchase risk assets like BTC. Conversely, if the USDT market share increases, it indicates that investors in the market are converting BTC into stablecoins to hedge against risks.

From the chart, it can be seen that after the rise of USDT.D, it encountered a pressure zone and broke below this ascending channel. It is currently hovering briefly on the yellow line, and it is expected to make a pullback to form a retest channel before continuing to decline. Therefore, the author believes that BTC will similarly face a wave of downward correction.