Bitcoin (CRYPTO: BTC) continues to consolidate its dominance at the end of the month, but analysts say altcoins may seem more upside soon.
What Happened: Crypto analyst Benjamin Cowen warned in his latest podcast update that altcoins may start underperforming Bitcoin by Q4, citing the Federal Reserve’s ongoing hawkish stance as a key headwind.
The Fed held rates steady at 4.5% in its latest FOMC meeting and reaffirmed its commitment to quantitative tightening, dimming hopes of near-term rate cuts.
Cowen says the altcoin rally was fueled by premature optimism around monetary easing, which now appears to be fading.
Drawing comparisons to 2017, he explained that in tightening cycles, capital tends to consolidate into lower-risk assets like …