Altcoins Losing Steam as Market Momentum Tilts Toward Bitcoin, Says Analyst
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Altcoins may be heading for deeper losses against Bitcoin, according to crypto market analyst Benjamin Cowen, who sees no signs of reversal in the broader trend.
Examining the TOTAL 3 index—a measure of crypto market cap excluding Bitcoin, Ethereum, and stablecoins—Cowen notes a continued slide with no clear bottom in sight.
He views most altcoins as short-term speculative assets that tend to bleed value when measured against BTC over time.
Rather than pinning hopes on isolated altcoin strength, Cowen believes the broader market is shifting, with capital quietly rotating from alts back into Bitcoin.
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A recent dip to new lows in June, he says, invalidates earlier claims of an “altseason” rebound.
His outlook is stark: without a clear structural change, altcoins may continue underperforming as Bitcoin reclaims dominance in the crypto landscape.
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