Analyst Benjamin Cowen, Bitcoin 
$63,272He states that (BTC) will continue to outperform altcoins in the coming period. Cowen suggests that Bitcoin will maintain its leadership in the crypto market.
Ethereum and BTC
Cowen, Ethereum 
$2,468He analyzed (ETH) in Bitcoin parity (ETH/BTC). To monitor the status of altcoins, looking at the ETHBC pair is a good option. The situation of Ether, the largest altcoin by market value, against BTC is also compatible with the general performance of altcoins. Stating that the ETH/BTC parity has formed a base, Cowen predicts that Bitcoin Dominance will continue to increase.
Bitcoin Market Dominance (BTC.D) shows the share of Bitcoin’s market cap against all crypto assets. Cowen predicts that BTC.D could reach the 60% level. He states that this increase may cause many altcoins to lose value against Bitcoin.
“I think BTC.D will reach 60% in the fourth quarter and this will lead to a decline in Altcoins/BTC parities. “Last cycle, this occurred in a combination of Bitcoin’s rally and subsequent decline.”
Critical Resistance Level for Bitcoin
Cowen notes that Bitcoin’s 200-day moving average, the level between $63,000 and $64,000, is a key resistance point. Exceeding this level could herald a strong rally for Bitcoin.
“The $63,000 to $64,000 range will be a big level. “If Bitcoin breaks through this level and makes a higher peak again, there is an increased likelihood that it will continue to rise in the fourth quarter.”
Currently, BTC.D is trading at 58% and Bitcoin is trading at $63,224, up about 1% on the day. According to the analyst’s evaluations, if Bitcoin exceeds the critical resistance level, positive signals may occur for investors. However, if the resistance level is not exceeded, the market is expected to remain volatile.
Bitcoin passing this critical level could create positive momentum in the crypto market and put pressure on altcoins. Investors can follow Bitcoin’s movements closely and determine their strategies according to market trends.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
