Why is Benjamin Cowen Bearish on EHT in the Midterm?
According to crypto analyst Benjamin Cowen, traders should be careful as the real altseason has not yet begun. Cowen highlighted that Ethereum and the wider altcoin market will be bleeding to Bitcoin until early November, based on historical performance.
After an impressive rally in the last few weeks, Cowen expects the ETH price to retrace and retest the 21-week EMA. The crypto analysts cautioned that the ETH price could be trapped in a correction phase even if it hits $5k. Already, Cowen has made several bold predictions for Ethereum in 2025, which came to pass with a high win rate.
Bigger Picture
The Ethereum price action has closely followed Bitcoin as traders bet on more Fed rate cuts. With the Gold price printing new all-time highs during the last few days, the BTC price is well-positioned to rally exponentially in the near future.
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