BTC entering risk-off phase, says Swissblock

On-chain analytics firm Swissblock reported that Bitcoin is entering a risk-off phase as Tether (USDT) dominance rises. BTC typically has an inverse correlation with USDT dominance. The firm explained that the current market trend is characterized by increased risk, a slowdown in Bitcoin's ascent, and a recovery in USDT dominance, suggesting a greater focus on survival than on expectations for a rally.