Recently, BTC and USDT dominance have been oscillating back and forth in several key areas, with the market confined within a relatively narrow range.

Speaking of BTC, the 98K-97K level has become a short-term resistance zone. If it cannot break through this level, new bullish positions will be very risky. Looking upward, the 100K range is an important target. On the support side, holding above 95K-94K is good; once broken, it may retest the 90K-87K range. Interestingly, as BTC continues to rise, a bearish divergence might form on the 4-hour to 12-hour timeframe, which could limit the upside and serve as a short- to medium-term reversal signal.

As for USDT dominance, the 5.75%-5.70% level is a short-term support, while 5.85% caps the upward potential. This level is very critical—if it breaks through 5.85%, the market could undergo a deep correction, possibly reaching the previous mid-term level of 6.20%. It has been holding there for months until recently being broken. Conversely, if it stays below 5.85%, there is a high probability of retesting the broader 5.5%-5.25% range in the medium term, which represents a deeper support on a higher timeframe.