There is an inverse correlation between USDT dominance and BTC.
If you look at the dominance chart, it has been consolidating near the 7-8% area since Jun 2022
Price is also forming a Massive Head & Shoulders pattern, while BTC is holding its current level nicely.
If USDT dominance breaks down, the next important support is between the 4-5% area, which will lead to a nice upside rally in BTC