alt season is about to end, Bitcoin is ready to explode!

Cryptocurrency analyst Benjamin Cowen warns that the value of many altcoins compared to Bitcoin may soon "plummet uncontrollably."

In a recent strategic analysis session, Cowen shared that the TOTAL 3 chart – used to track the total market capitalization of all digital assets, excluding Bitcoin, Ethereum (ETH), and stablecoins – is still maintaining a downward trend compared to BTC and has not yet found a market bottom.

"I don't care how great your altcoin community is or whether the developers you follow have ever disappointed you. To me, altcoins do not maintain a stable upward momentum compared to Bitcoin, and most of them are gradually falling behind the 'king of the coin world' in terms of value. If every single altcoin is drained of value by Bitcoin, then the collective altcoin will be too. That's why I believe that the altcoin/BTC pairs will eventually hit a bottom of 0.25. It's just a matter of time."

Source: Benjamin Cowen/YouTubeThe move towards the support area indicated by Cowen will be a signal that altcoin is showing clear weakness compared to Bitcoin.

Cowen also emphasized that altcoin is in a prolonged downtrend compared to Bitcoin and shows no signs of reversal in the near future.

"I don't know exactly when the altcoin/BTC pairs will hit the bottom, I can't predict that. But what you are witnessing is essentially the slow transition of investors holding altcoins to Bitcoin..."

The chart shows you what is happening. Altcoin has created a new lower low compared to Bitcoin on June 1. Therefore, any predictions about an altcoin season or the bottom of altcoin/BTC pairs before this point are already incorrect.

Currently, the TOTAL3/BTC index fluctuates around 0.33.

Itadori

B-4.79%
A-0.48%
BTC0.62%
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