Popular crypto analyst Benjamin Cowen, Bitcoin 
$90,606He predicts that will outperform altcoins throughout the rest of 2024. Addressing his 884,400 followers on the social media platform
Bitcoin Dominance Rate (BTC.D)
BTC.D refers to the ratio between the market cap of Bitcoin and the total market cap of all crypto assets. Observing that this rate is at 61% at the time of writing, Cowen points out that the increasing trend may continue until the end of the year.
Cowen stated that he observed a downward trend against Bitcoin on the TOTAL3 chart. TOTAL3, Bitcoin, Ethereum 
$3,204 and an indicator that tracks the market value of all crypto assets except stablecoins. According to Cowen, “There is a possibility that Alt/BTC parities will decline further.”
Bitcoin and Dollar Index Correlation
Cowen stated that Bitcoin has begun to correlate with the US Dollar Index (DXY). DXY is an index that measures the value of the US dollar against other major currencies. “Bitcoin and DXY do not always show a negative correlation,” Cowen said, reminding that similar situations have occurred in the past.
Bitcoin’s Dominance May Stay Strong Until the End of the Year
Bitcoin is currently trading at $90,385 and is up 2.5% in the last 24 hours. Cowen emphasizes that BTC is in a strong position in terms of market capitalization compared to altcoins. Although he predicts that this dominance may decrease in 2025, he thinks BTC can remain strong for now.
While Cowen emphasized that investors should not expect altcoins to always bottom against Bitcoin, he stated that diversification may make sense. He also stated that Bitcoin’s dominance increased in the last quarter of the halving years and that this trend may continue.
The analyst added that many things may change in the crypto market by 2025 and this process should be followed carefully.
While the correlation between the US dollar and Bitcoin has some investors nervous, Cowen is familiar with the situation. Stating that a similar correlation was experienced in the fourth quarter of 2016, Cowen states that Bitcoin does not always have to have a negative correlation with DXY.
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.
