Emre Yumlu 
Renowned crypto analyst Benjamin Cowen has shared new insights on the long-anticipated altcoin rally, suggesting that favorable macroeconomic conditions could soon pave the way for strong upward momentum. Highlighting recent comments from Federal Reserve Chair Jerome Powell, who hinted that monetary tightening could soon come to an end, Cowen believes this development could set the stage for significant market movement across the crypto sector.
Bitcoin Must Lead the Way
According to Cowen, any meaningful rally in altcoins is contingent upon Bitcoin (BTC) reaching new highs. He explained that if Bitcoin continues to climb through the fourth quarter, while monetary tightening ends and rate cuts begin, the alt/BTC pairs could experience a notable rebound.
“If Bitcoin rallies into the fourth quarter while alt/BTC pairs remain near their lows and the Fed ends its tightening cycle, we could see a strong surge in altcoins,” Cowen noted.
The Ideal Window: November to December
Cowen pointed out that historically, major altcoin movements tend to occur toward the end of the year, particularly in November and December. Referring to past market cycles in 2017, 2023, and 2024, he stated that the November-to-December window could once again align with the start of a new phase in the alt/BTC market.
Two Possible Outcomes
Cowen sees two potential scenarios unfolding:
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A late-year rally that sparks an altcoin season.
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A delayed cycle, pushing the next major altcoin run to 2026.
In both cases, he expects Bitcoin dominance to continue rising and advises investors to maintain a heavier weighting toward BTC in their portfolios.
“Why Hold Altcoins?”
Cowen emphasized that altcoins tend to underperform Bitcoin in both bullish and bearish market phases. “If altcoins continue to lose ground against Bitcoin, why hold them? Bitcoin offers lower downside risk and strong upside potential,” he said.
Ultimately, Cowen believes that as monetary tightening comes to an end and interest rates start to decline, conditions will gradually improve for altcoins. Until then, he concludes, “liquidity should flow to the king — Bitcoin.”
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