Popular crypto analyst Benjamin Cowen believes Bitcoin (BTC) could outperform altcoins for the rest of 2024.

Cowen tells his 884,400 followers on the social media platform X that the alts could decline further against the flagship crypto asset as Bitcoin’s dominance level (BTC.D) hovers around 60%.

BTC.D is the ratio between the market cap of BTC versus the market cap of all crypto assets combined. At the of writing, BTC.D is at 61%.

He also says that the TOTAL3 chart appears to be on the verge of declining on the weekly timeframe against Bitcoin (TOTAL3/BTC), similar to what occurred in 2020. The TOTAL3 chart tracks the market capitalization of all crypto assets excluding Bitcoin, Ethereum (ETH) and stablecoins.

“Still a…