Crypto Analyst Warns of Impending Altcoin Market Implosion Against Bitcoin

The altcoin market may be on the verge of a major collapse against Bitcoin, according to crypto analyst Benjamin Cowen. In a recent video update, Cowen warned his 800,000 YouTube subscribers that the TOTAL3 chart, which tracks the market capitalization of all altcoins excluding Ethereum and stablecoins, is showing bearish signs against Bitcoin.

Cowen pointed out that many altcoins are still hitting new lows against Bitcoin, indicating a potential impending collapse in the altcoin market. He compared the current situation to a pattern that played out in 2019, suggesting that history may be repeating itself in the current cycle.

The analyst predicted that altcoin pairs may experience a final bounce before ultimately failing and heading back down to range lows. He emphasized that this time, there may not be any mercy in another rally, leading to a final capitulation and potentially dropping to 25% of Bitcoin’s market cap.

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