A generally followed cryptocurrency analyst gives an alert, warns traders that altcoins seem ready to keep falling against Bitcoin (BTC).
In a new thread, Crypto trader Benjamin Cowen tells His 1 million followers on the social media platform X that the American monetary policy will remain tight, suggesting that Altcoin pairs versus the best crypto assets from Market Cap are on their way to their low low point.
“Now that the economy is being strongly held, it slows down the interest rates and it probably slows down the end of QT [quantitative tightening]. This suggests that monetary policy remains restrictive and continues to support the idea that Altcoin/BTC pairs are probably still going to the lows of the range. “
According to Cohen, during the last two summers, Altcoin pairs versus BTC would do that rally Before he immerses him during the first quarter, a movement that he thinks think could happen again.
“The last 2 summers Alt/BTC pairs found some brief relief before they went lower in Q4. The larger strout by Alt/BTC pairs in recent years did not take place until November.”
Total3, or the entire market capitalization of all crypto -activa excluding Bitcoin and Ethereum (ETH), is session At $ 827.5 billion at the time of writing, a decrease of 2.3% in the day.
Grain concludes His analysis by traders to tell alt/BTC pairs not to be confused with USD/BTC pairs, who behave in different ways.
“Someone understands the difference between Alt/BTC and Alt/USD or continue to pretend that they are the same? This is the difference between alt/USD and alt/BTC pairs. Alts keep bleeding to BTC but have gone on their USD pairs. Something Bitcoin dominance.”
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Generated image: dalle3
