Experienced cryptocurrency analyst Benjamin Cowen has drawn attention to the performance gap between Ethereum (ETH) and Bitcoin (BTC) and assessed its potential effects on the altcoin market. In a recent social media post, Cowen pointed out that ETH

Experienced cryptocurrency analyst Benjamin Cowen has drawn attention to the performance gap between Ethereum (ETH) and Bitcoin (BTC) and assessed its potential effects on the altcoin market. In a recent social media post, Cowen pointed out that ETH has been underperforming against BTC and suggested that this could have negative implications for the altcoin market. Emphasizing that the ETH/BTC pair has been in a long-term downtrend, Cowen predicted that this trend could continue down to the 0.035 level, which was last seen in 2021. He also suggested that the ETH/BTC pair could experience a drop of up to 40%. Cowen expressed concerns that this decline could adversely impact the altcoin market as well. Cowen noted that while ETH briefly gained momentum with the introduction of Ethereum futures exchange-traded fund (ETF) applications, this momentum was not sustainable. He highlighted that the ETH/BTC pair is currently trading at its lowest levels in 2023. As of now, the ETH/BTC pair is finding buyers at $0.057. This analysis reflects Cowen's evaluation of the relationship between Ethereum and Bitcoin and the potential consequences for the altcoin market. It offers an important perspective for investors interested in Ethereum and other cryptocurrency assets.