In breaking news that will shock absolutely no one who’s checked their portfolio lately, resident crypto soothsayer Benjamin Cowen is waving a giant red flag in the general direction of altcoins. Spoiler: they’re not having a moment. 📉
With more than a million loyal followers hanging on his tweets, Cowen hopped on X (formerly Twitter, currently that thing you hate-scroll at midnight), declaring that US monetary policy is about as tight as your jeans after Thanksgiving. Sorry, altcoins — Jerome Powell isn’t here to make you rich this summer. 😂
“With the economy holding strong, it delays rate cuts and likely delays the end to QT [quantitative tightening].” Translation: The Fed is staying in helicopter-parent mode, and your Dogecoin dreams are grounded.
Let’s play a game called “How many times will altcoins rally and then break your heart?” Cowen says, for the last couple of summers, ALT/BTC pairs managed a quick glow-up before heading back to their Q4 slumber party in the basement. It’s the financial equivalent of getting a text back but only when Mercury’s in retrograde. 🪐
“The last 2 summers ALT/BTC pairs found some brief relief before heading lower into Q4. The larger bounce by ALT/BTC pairs over the last few years did not occur until November.”
Meanwhile, TOTAL3 (which sounds like a detergent but is actually the total market cap of all crypto assets except Bitcoin and Ethereum) is currently chilling at $827.5 billion. That’s down 2.3% for the day, but who’s counting? (You are. You’re definitely counting.)
Cowen wraps it up with a gentle reminder about trading ALT/BTC vs. ALT/USD pairs. Yes, there’s a difference, and no, pretending there isn’t will not help your bags recover. Altcoins might be bleeding out to BTC, but hey, at least your USD pairs have a pulse, right? Right…? 🥲
“Does anyone understand the difference between ALT/BTC and ALT/USD or are people just going to keep pretending they are the same thing? This is the difference between ALT/USD and ALT/BTC pairs. ALTs keep bleeding to BTC but have gone up on their USD pairs. Something something Bitcoin Dominance.”
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2025-07-04 23:12