USDT Dominance; What is going on?

$ dominance has been in an uptrend for quite some time now and has broken out of the trend line, tested 6.2% and got rejected back to 5.6% and now is at 6%. Maybe another pullback to 5-5.33% level which should put BTC at 33-35k range is in play?
Chart PatternsTechnical IndicatorsTrend Analysis

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