As quantitative tightening (QT) policies continue to pressure liquidity across global markets, altcoins may face further downside relative to Bitcoin, according to analyst Benjamin Cowen.
In his latest outlook, Cowen suggests that ALT/BTC pairs are likely to decline from the current 0.34 level down to 0.32, with a longer-term target of 0.25.
Cowen’s chart illustrates the historical performance of the TOTAL3/BTC pair — which represents the total altcoin market cap (excluding BTC and ETH) versus Bitcoin. The downward trajectory, visible since early 2022, appears to be continuing in a steady descending channel. Support levels around 0.32 and 0.25 have historically served as key pivots during prior bear market phases.
“Bitcoin dominance could rise to 66% soon,” Cowen notes — a shift that would signal increasing capital rotation back into BTC as investors seek safety in the most established crypto asset.
The chart’s long-term downtrend shows a market increasingly cautious about risk, with capital consolidating into Bitcoin during periods of macro uncertainty. This supports the thesis that BTC outperformance will persist until broader market sentiment improves.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/altcoin-pairs-poised-to-drop-further-against-bitcoin-says-top-expert/