How do you confirm the end of a bitcoin:native bear market? One indicator does the trick: USDT Dominance (USDT.D) hit an all-time high of 9.488% on June 13, 2022, when BTC was priced at 17,567. At that point, we were already in the later stages of the bear market. Later, on November 7, 2022, USDT.D rose again to 9.422%, and at the same time, BTC dropped to 15,512. Looking back now, whenever USDT.D climbs back above 9%, it marks the bottom of the bear market. Of course, history doesn’t repeat itself exactly, but I believe USDT.D provides some reference value for gauging BTC’s movement rhythm. Maybe in this bear market, we’ll see USDT.D hit a second peak, and that could be the final chance to hop on. Will this time be different from 2022? Or is it always the same? I think we’ll get the answer in Q4. Thoughts: Why was BTC priced at 17,567 when USDT.D first hit 9.488% in 2022, but when USDT.D didn’t break 9.488% on November 7, BTC still fell below 17,567 to 15,512?