There's another insightful view on the USDC dominance chart that recently caught my eye. Upon looking, we can notice it matching up with the classic bubble chart, similar to what BTC experienced in 2017.
It's clear that a bubble peak in the stable coin usually signals a bearish trend in BTC, due to their inverse relationship.
The intriguing aspect of this is that USDC peaked in June, which is when I pointed out that BTC had ended its decline and started showing signs of forming a bottom.
Had it not been for interventions from FTX, this could potentially have formed the real bottom.
Anyway, given that all bubbles usually deflate by -85% or more, this aligns well with the previous reaccumulation area, leaving wide room for a long-term rise in Bitcoin.
Therefore, we can see numerous elements aligning well in this context.
@RosePremiumm
