Cryptocurrency analyst Benjamin Cowen highlights a growing imbalance in the market: capital is pouring into Bitcoin (CRYPTO: BTC) and meme coins, while other crypto projects struggle for attention.
What Happened: In a podcast on Feb 11, Cowen highlights Bitcoin dominance has surged from 38-39% to 64%, which he calls a sign of the market “healing itself.”
He argues that altcoin season isn’t here yet because altcoins have not reclaimed 25% of Bitcoin’s market cap, a necessary condition seen in past cycles.
Meme …
Full story available on Benzinga.com