【Altcoins vs Bitcoin: Who Will Be the True Winner in 2025? Why Cowen is Bullish on BTC】

Despite the recent significant fluctuations in the crypto market due to tensions in the Middle East, Bitcoin is the only asset worth holding onto in the coming months.

BTC faces short-term pressure, but the long-term outlook remains unchanged.

Last weekend, BTC fell below the $100,000 mark, closing at a low of $101,339, with a double top pattern appearing on the weekly chart and RSI divergence indicating a possible correction ahead.

However, Cowen believes this is a periodic consolidation rather than a trend reversal. The real “bull market climax” may have to wait until Q4 or even early 2026.

Why do altcoins continue to languish? The key lies in the soaring dominance of BTC.

BTC's market share has surpassed 65% and is heading toward 70%.

Frequent liquidations of leveraged funds have dampened market interest in high-beta assets (altcoins).

Crypto liquidity is returning to mainstream assets, and risk appetite has temporarily decreased.

Altcoins are not without opportunity; rather, the timing is not right. Capital always concentrates first in the direction of the strongest “certainty”—which is BTC.

Cowen's predicted rhythm:

August-September: Bitcoin may build a local bottom.

Q4 to Q1 2026: The entire market is expected to experience a parabolic rise, at which point altcoins may truly take off.

In other words, the current “drop” of altcoins is not surprising; rather, it is a natural continuation of BTC's strong cycle.

Central viewpoint:

Don’t use “altcoins can’t rise” to deny that a bull market is underway. Bull markets never see all coins rise together; instead, they rotate through main lines.

The market is currently undergoing “chip redistribution” and “emotional reshaping.” The more volatility, panic, and stagnation there is, the closer we are to a true explosion.

Opportunities for altcoins will definitely come, but not now. Now is the playground for BTC controllers.

So don’t be anxious, don’t waver; first follow the right main line to qualify for participating in the next round of wealth transfer.

Stay tuned, I will guide you to insight into the cyclical context, navigate through bull and bear emotions, and lay out the truly explosive sectors in advance!