Crypto analyst Justin Bennett is cautioning that Bitcoin may collapse if a key level is broken. Using the whale versus retail delta indicator, Bennett suggests that if the indicator continues to decline, it could be bearish for Bitcoin. He believes that a market correction is more likely than a bullish continuation due to low trading volume and points to the increasing market cap of Tether as a bearish signal. Bennett also warns of upcoming events that could cause market volatility. At the time of writing, Bitcoin is trading at $70,725, down 1.6% in the last 24 hours.



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