Reserve

Bitcoin

Analyst Benjamin Cowen, closely followed in the cryptocurrency markets, stated that the Federal Reserve is likely to keep interest rates high for a longer period of time at the expense of risky assets like altcoins until the order is disrupted.
<h2 id="expectation-of-correction-from-the-analyst">Expectation of Correction from the Analyst</h2>
In his recent remarks, cryptocurrency <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">analyst</a> Benjamin Cowen claimed on YouTube that the Federal Reserve would not care about lowering interest rates until the S&amp;P 500 witnessed a significant corrective move. The analyst stated the following in his comments:
<blockquote>
 Liquidity flows from high risk to low risk. This does not mean that lower risk assets will not fall, it just means that when they do, it is usually a sign of the end. Because when they fall, the Fed notices it. When the S&amp;P falls, the Fed starts to notice it. Do you think the Fed cares when the S&amp;P is at 4,600? No, it’s very high. Do they care about 4,100? Probably not. Will they care if it becomes 3,500 or 3,400? Yes, they will start to care and that’s when they will start cutting. If you wonder when altcoins will turn against <a href="https://en.coin-turk.com/forget-it-all-senior-analyst-clarifies-crypto-decline-what-next/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>, watch the S&amp;P.
</blockquote>
Benjamin Cowen believes that as long as the stock market remains high, the dominance chart of Bitcoin (<a href="https://en.coin-turk.com/bitcoin-price-recovers-as-bulls-aim-to-regain-29500-support/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a>.D), which tracks the percentage of total market value of Bitcoin, will continue to rise, causing many altcoins to lag behind.
<img decoding="async" class="aligncenter wp-image-271486 size-full" src="https://coin-turk.com/wp-content/uploads/2023/10/analist-4.jpg" alt="" width="861" height="518">
<h2 id="increased-interest-in-altcoins">“Increased Interest in Altcoins!”</h2>
The analyst argued that historically, BTC.D tends to reverse its upward trend when the Fed begins its interest rate cut cycle. He also expects crypto investors to redirect their capital from altcoins to Bitcoin by that time. In his comments on the subject, he said:
<blockquote>
 The most important thing to understand is that the dominance of BTC already peaked in the previous cycle in September due to the Fed starting interest rate cuts. We haven’t even seen the Fed start interest rate cuts yet and it lasted another month or two in the previous cycle. So why assume that dominance peaked after the first interest rate cut?
</blockquote> Continue Reading: <a href="https://en.coin-turk.com/famous-crypto-prophet-updated-expectations-for-bitcoin-and-altcoins/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/famous-crypto-prophet-updated-expectations-for-bitcoin-and-altcoins/</a>

Famous Crypto Prophet: Updated Expectations for Bitcoin and Altcoins

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