Bitcoin

Benjamin Cowen, a top-notch analyst and well-known trader on Twitter, recently shared his insights on the cryptocurrency market dynamics. Under the handle @intocryptoverse, Cowen <a href="https://twitter.com/intocryptoverse/status/1690118434632470529?s=20" target="_blank" rel="noopener noreferrer nofollow">highlighted</a> the market’s reaction following the SEC vs. Ripple news. 
He observed that altcoins experienced a significant bounce against Bitcoin shortly after the news broke. However, this rally led many in the Crypto Twitter (CT) community to challenge Cowen’s stance on Bitcoin (BTC) dominance. 
It looks like Cowen has been waiting for the right moment to reply to these challenges – he pointed out the current state of affairs by asking, “Where are they now?” 
He noted that altcoins have collectively declined by 10% since that rally. 
<figure class="wp-block-image size-large"> 
 <img decoding="async" loading="lazy" width="1024" height="638" src="https://captainaltcoin.com/wp-content/uploads/2023/08/image-377-1024x638.png" alt="" class="wp-image-311673" srcset="https://captainaltcoin.com/wp-content/uploads/2023/08/image-377-1024x638.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-377-300x187.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-377-768x478.png 768w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-377-1536x956.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-377-2048x1275.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-377-241x150.png 241w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-377-100x62.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-377-562x350.png 562w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-377-788x490.png 788w" sizes="(max-width: 1024px) 100vw, 1024px"> 
</figure> 
Emphasizing the importance of liquidity for altcoins, Cowen cautioned against getting swayed by the ever-changing narratives in the crypto space. 
In a<a href="https://twitter.com/intocryptoverse/status/1690118869028077569?s=20" target="_blank" rel="noopener noreferrer nofollow"> follow-up tweet</a>, the famous Twitter analyst provided a reference by showcasing the #TOTAL3 (ALTs) chart with net liquidity overlaid. This further underscores the critical role of liquidity in determining the health and stability of altcoins. 
<figure class="wp-block-image size-large"> 
 <img decoding="async" loading="lazy" width="1024" height="638" src="https://captainaltcoin.com/wp-content/uploads/2023/08/image-378-1024x638.png" alt="" class="wp-image-311681" srcset="https://captainaltcoin.com/wp-content/uploads/2023/08/image-378-1024x638.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-378-300x187.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-378-768x478.png 768w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-378-1536x956.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-378-2048x1275.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-378-241x150.png 241w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-378-100x62.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-378-562x350.png 562w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-378-788x490.png 788w" sizes="(max-width: 1024px) 100vw, 1024px"> 
</figure> 
Liquidity remains a pivotal factor in the cryptocurrency market, especially for altcoins. While news and narratives can trigger short-term rallies, the long-term stability and growth of altcoins are closely tied to their liquidity. Benjamin Cowen’s analysis serves as a timely reminder for traders and investors to look beyond the immediate reactions and focus on fundamental factors. 
Join us on <a href="https://www.facebook.com/captainaltcoin" data-type="URL" data-id="https://www.facebook.com/captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Facebook </a>and <a rel="noopener noreferrer nofollow" href="https://twitter.com/CaptainAltcoin" target="_blank">Twitter</a> for the latest insights and discussions in the world of crypto. 
Explore our <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/tag/news/" data-type="URL" data-id="https://captainaltcoin.com/tag/news/" target="_blank">new</a><a href="https://captainaltcoin.com/tag/news/" data-type="URL" data-id="https://captainaltcoin.com/tag/news/" target="_blank" rel="noopener noreferrer nofollow">s section</a> and stay ahead of the curve with our expert <a href="https://captainaltcoin.com/predictions/" data-type="URL" data-id="https://captainaltcoin.com/predictions/" target="_blank" rel="noopener noreferrer nofollow">price predictions</a>. 
The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/benjamin-cowen-says-ripple-news-triggered-altcoins-bounce-against-bitcoin-but-where-are-they-now/">Benjamin Cowen Says Ripple News Triggered Altcoins’ Bounce Against Bitcoin, But ‘Where Are They Now?’</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.

Benjamin Cowen Says Ripple News Triggered Altcoins’ Bounce Against Bitcoin, But ‘Where Are They Now?’

CaptainAltcoin

Other articles published on Aug 12, 2023

$SHIB: Shiba Inu’s Futures Open Interest Surges As Shibarium Gets Closer to Launch

FTX’s SBF Imprisoned for Tampering with Evidence

Argentina criminalizes peso burning amid growing crypto use

METALSWAP RECAP: JULY

Gemini’s 4,000 XRP Giveaway Aligns with High-profile Listing News

DeFi tries to recover from Curve hack, but exploits continue: Finance Redefined

Join our free newsletter for daily crypto updates!