Summary
- Benjamin Cowen stated that the current market is not an altseason but an Ethereum season.
- He reported that since April of this year, altcoins have dropped by 46% compared to Ethereum.
- He analyzed that Ethereum is showing a trend of absorbing the liquidity of the altcoin market.
An analysis has pointed out that the altcoin market is overall sluggish compared to Ethereum (ETH)'s bullish trend.
On the 9th, cryptocurrency analyst Benjamin Cowen, via X (formerly Twitter), stated, "The current market is not an Alt Season—it's an ETH Season," and added, "Don't confuse the two."
He noted, "In the past four years, some investors have argued that an altseason was coming, but most of those claims missed the mark, and only when the cycle actually happened could they say they were right."
He further remarked, "Since April this year, altcoins have fallen 46% against Ethereum."
Cowen previously analyzed that there is a trend of Ethereum absorbing the liquidity of the altcoin market.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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