Cryptocurrency analyst Benjamin Cowen has argued that an ‘altcoin season‘ has failed to materialize due to monetary policy, liquidity and stubborn Bitcoin (CRYPTO: BTC) dominance.
What Happened: In a podcast published on June 28, Cowen stated, “Altseason has not happened yet.”
According to Cowen, a sharp drop in Bitcoin (CRYPTO: BTC) dominance and a relative surge in altcoin performance — the conditions that typically fuel altcoin rallies in coins like Ethereum (CRYPTO: ETH), XRP CRYPTO: XRP), and Solana (CRYPTO: SOL) — aren’t present.
“If you only followed Crypto Twitter, you’d think we’re already in our 700th alt season,” Cowen joked. “But the data tells a very different story.”
Reviewing historical trends, Cowen noted …