Bloomberg Expert Predicts: If Ethereum Drops to $1,500, Tether Market Cap Will Take Over

Ethereum's Challenges

Bloomberg Intelligence senior commodity strategist Mike McGlone recently commented that if Ethereum's price drops to $1,500, Tether's market cap may surpass ETH. A notable trend in the crypto market is Tether's increasing market dominance.

In recent times, Ethereum has already broken below the critical support level of $2,500 since 2024, indicating challenges to its market position. If Ethereum continues to fall to $1,500, Tether's market cap might overtake it.

The Rise of Tether

While Bitcoin and Ethereum remain the leading cryptocurrencies by market cap, Tether's market performance highlights its growing role as a stablecoin. Tether's market cap is climbing, and it could potentially surpass Bitcoin in the future.

• Ethereum's break below key support levels has shaken market confidence.
• Tether's growing market cap reflects its dominance in the crypto space.
• Tether could surpass Bitcoin in the near future.

Currently, Tether's market position stands around $10,000, which is an important reference point for Bitcoin's market cap.