This is a comparison chart of BTC weekly and USDT.D market share. To be honest, based on historical patterns, whenever the market share hits the long-term uptrend line, BTC prices usually experience a pullback or decline.

However, there hasn't been a spot ETF for the past 6 years, and this is likely the only factor that could cause USDT.D to break below the trend line completely. In simple terms, the key is still to see whether the spot buying can continue to have capital inflow, with recent sources of funds being the ETF and retail trading on Coinbase.

Therefore, theoretically, this trend line will eventually be confirmed as broken. If this situation suddenly stops, then floating supply will gradually be bought in with the advantage of chasing up, leading to a significant price pullback again.

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