Here’s Why You Need To Watch Bitcoin If You’re Betting On ETH, XRP
Posted On October 21, 2025
Crypto analyst Benjamin Cowen says that a true altcoin season will only begin once both Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) reach new all-time highs, marking a structural shift in market dynamics.
What Happened: In an interview with Scott Melker on Oct. 19, Cowen explained that the recent market wipeout, where over $20 billion in crypto positions were liquidated in just 10 days, aligns closely with a 2017-style cycle pattern.
In that cycle, altcoin/BTC pairs rallied and peaked by late summer, only to crash by early November before a final euphoric rotation.
He noted that many traders incorrectly expected 2025 to mirror 2021’s structure, whereas current price behaviour “is more like …
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