Data: Tether's market share hits a new high since April, fueling risk aversion in the market.

According to CoinDesk, Tether's market capitalization has reached $184 billion, and its market dominance has recently surged to its highest level since April, reflecting strong risk aversion in the cryptocurrency market. Currently, the crypto market remains under pressure, with Bitcoin falling 11% this month to $97,000. Investors are shifting funds to USDT and other USD stablecoins to preserve value. Historical data shows that Tether's dominance tends to rise sharply during bear markets, as traders prefer to protect capital by holding stablecoins. Historically, when the MACD histogram breaks above the zero line, it usually signals the start of a bear market, accompanied by bullish momentum in USDT's dominance.