The wider cryptocurrency market, led by Bitcoin (BTC), has experienced an increasing short-term sentiment in the midst of the current geopolitical crisis in the Middle East. After having plagued the weekend under $ 100k, BTC price registered the lowest weekly closure of around $ 101,339.
Consequently, BTC price signaled further potential weakness in the short term, with an interim target of around $ 93k. In addition, the BTC prize in the weekly time frame has formed a potential macro-double top in combination with Bearish divergence of the relative strength index (RSI), a fixed reversing pattern.
If the level of support does not hold around $ 93k in the coming weeks, a capitulation to $ 76k will be imminent in the following months.
Benjamin Cowen on Altealth season 2025
After the increased crypto volatility, which led to significant liquidations of livered long traders, fear of further capitulation remains felt. The Bitcoin and Ethereum fear and greed indexes have fallen below 50 percent after the recent crypto sale caused by the American attack on Iran.
According to Benjamin Cowen, an established Crypto analyst, the Bitcoin market will continue to get more ground on Altcoins in the coming months. With Bitcoin -Dominance that was over 65 percent on Sunday, Cowen thinks that the figure will rise further in the near future and possibly even hit 70 percent.
Consequently, the Crypto analyst believes that Altcoins will continue to bleed to the Bitcoin market, so that the long -awaited Altors season 2025 will be postponed further. The most important thing is that Cowen emphasized that the wider crypto market, led by Bitcoin, will establish a local low point around August or September.
In the meantime, analysts from Wall Street expect the wider crypto market to register a parabolic rally in the fourth quarter of 2025 and possibly extend to the first quarter of 2026.