Bitcoin’s dominance continues to climb, nearing 66%, while altcoins face a challenging period marked by shrinking liquidity brought about by the ongoing Quantitative Tightening (QT) process. According to crypto analyst Benjamin Cowen, the altcoin-to-Bitcoin market cap ratio is likely to fall from its current level of 0.34 towards 0.25. This decline is driven primarily by QT’s effect on market liquidity. Cowen analyzed this trend using a chart that shows a steady decline in the ratio over the past year, currently resting around 0.34. The analysis indicates the next support level lies at 0.32 with a longer-term target of 0.25. Cowen’s chart also displays a descending triangle pattern, which often signals further price drops. “With QT continuing, it appears likely that altcoins will continue to underperform Bitcoin,” Cowen shared on X.