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Crypto analyst Benjamin Cowen is sounding the alarm. He reckons altcoins are about to take a nosedive against Bitcoin. Cowen, with a whopping 839,200 followers on X, warns of pain ahead for altcoin holders. He thinks the crypto market is mirroring the 2019 cycle. In April, Cowen spotted a pattern. The total altcoin market cap against Bitcoin looked eerily similar to 2019. He predicted a bigger Bitcoin correction once ALT/BTC pairs collapse. This would lead to altcoins capitulating against the US dollar. Now, with ALT/BTC breaking support, Cowen says it's showtime. He expects a repeat of the 2019 scenario. "We should finally see ALT/BTC pairs break down soon," Cowen states. "Last cycle, they broke down one month before the 1st rate cut, and something similar could play out here too." The CME FedWatch Tool backs this up. It shows 100% of traders expect a Fed rate cut next month. Cowen's not done yet. He predicts Bitcoin Dominance will hit 60% before altcoins catch a break. He explains, "With some indicators flashing recessionary signals, it means the Fed will begin to cut rates soon, in order to try and minimize the damage and hope for a soft landing." This spells trouble for altcoins. Cowen adds, "This means BTC dominance will top soon (probably sometime between Sept.-Dec. 2024). But first, 60% dominance." As of now, Bitcoin Dominance sits at 56.73%. If Cowen's 2019 comparison holds water, altcoins are in for a rough ride. The crypto market's no stranger to volatility. But Cowen's prediction suggests we're in for a wild one. So, what's a crypto investor to do? Keep a close eye on Bitcoin Dominance and those Fed rate decisions. Remember, though, this is just one analyst's take. The crypto market's full of surprises, and nothing's set in stone. Still, Cowen's track record and massive following make his predictions worth considering. Altcoin holders, you've been warned.

XRP bulls are chomping at the bit. An analyst's recent Elliott Wave analysis paints a rosy picture for the cryptocurrency. Charting Guy says XRP's ready for takeoff. The crypto hit $0.3825 on July 5, marking the end of Wave 2. Now it's Wave 3 time. This wave could push XRP to $6. That's not chump change. Other analysts are even more bullish. CryptoBull sees $27 in XRP's future. Cryptobilbuwoo's crystal ball shows $21 to $45. But hold your horses. A correction's likely after Wave 3. It's not all smooth sailing. Charting Guy thinks the party could keep going, though. Wave 5 might take XRP to a whopping $22. Let's not get ahead of ourselves. $8 to $13 is more realistic, he admits. Mt. Gox is throwing a spanner in the works. They've dumped 52,550 BTC on the market. It's giving XRP a headache. Ethereum ETFs aren't helping either. They're bleeding money, and it's dragging down the whole crypto market. But it's not all doom and gloom. XRP's trading volume is through the roof. It's up 21% to $2.07 billion. Why? People are buzzing about the Ripple vs. SEC case. A win could send XRP to the moon. A loss? Well, let's not think about that. Right now, XRP's trading at $0.6200. It's up 1.44% in the latest session. Not too shabby. The charts look decent. There's an upward channel and the 50-day EMA's at $0.5899. That's good news for the bulls.

The US Securities and Exchange Commission (SEC) has given the green light to spot Ethereum Exchange-Traded Funds (ETFs). The crypto industry is buzzing with anticipation. Today's launch marks a significant milestone. Anthony Pompliano, CEO of Professional Capital Management, shared his thoughts on CNBC's Squawk Box. He believes ETH ETFs will boost crypto adoption. But he reckons their story isn't as clear-cut as Bitcoin's. Pompliano praised Bitcoin ETFs' impact. "It's probably the best ETF launch in history," he said. These products continue to see substantial inflows. He pointed out a striking stat: "The BlackRock Bitcoin ETF has had more inflows than QQQ year-to-date." Yesterday alone, BTC products raked in nearly $500 million. But will Ethereum ETFs match this success? Pompliano doesn't think so. "People aren't talking about it as much," he noted. The hype just isn't there. Why the lukewarm reception? Pompliano believes it's down to narrative. "The story is clear with Bitcoin. It's digital gold," he explained. Ethereum, on the other hand, is seen as a "technology platform" with "a lot more competition." Despite this, some firms are pitching ETH ETFs as a diversification play. This could attract investors looking to spread their bets. Pompliano thinks this approach might pay off. However, he warns that inflows won't match Bitcoin's levels. "We got to see what the flows will be like," he cautioned. One drawback? ETF holders won't benefit from Ethereum's staking rewards. But Pompliano sees a bigger picture. He reckons today's launch will open the floodgates for altcoins. "These things come to Wall Street," he predicted. It might take time, but the door is now ajar. This shift could reshape the crypto landscape. "What went from a zero to one 'Is it going to be Bitcoin or is it not?' is now going to be a crypto industry," Pompliano explained. This could trigger a portfolio approach to crypto investing. In the end, Pompliano expects decent inflows for Ethereum ETFs. He also predicts a price bump for ETH. But he tempers expectations: "It's not going to be to the magnitude that people are hoping for."

Europol, the EU's law enforcement agency, claims that criminal cases involving Bitcoin are now on par with those involving altcoins. This sounds surprising, given the widespread belief that Bitcoin is utterly dominating the crypto market. Yet, it is time to say goodbye to the old prejudices. Altcoins are on the rise, whether you like it or not. Criminal world has spoken. This revelation comes from Europol latest Internet Organised Crime Threat Assessment (IOCTA). The report, released on Monday, highlights a surge in crypto use for illegal activities. Altcoins, in particular, are gaining traction among criminals. Ransomware attackers still prefer Bitcoin for payoffs. It's easier to get hold of than other tokens. But some crooks are branching out. They're now demanding payments in coins like Monero. Europol tweeted about the report's findings. "In 2023, millions of victims across the EU were attacked and exploited online on a daily basis," they said. The crypto market's evolution is opening new doors for scammers. Europol warns that the growing number of crypto ETFs could be ripe for exploitation. Investment fraudsters are getting savvy. They're increasingly converting Bitcoin to stablecoins like Tether's USDT. Why? Stablecoins are less of a rollercoaster ride when it comes to price. Investigators have noticed something interesting about Tether. It's popping up more on the Tron blockchain than Ethereum. The likely reason? Lower transaction fees on Tron. Non-compliant services continue to be a thorn in the side of crypto investigators. Some companies are playing ball with law enforcement. But offshore services? They're still a headache, often leading to drawn-out legal procedures. Crypto laundering got a facelift in 2023. Swapping services are all the rage among criminals now. They're using these to cover their tracks, swapping to privacy coins for anonymity and stablecoins for stability. Last month, Europol raised another red flag. Crypto mining could be a new frontier for money laundering. Criminals can use it to hide dirty money and even turn a profit. The BitClub Network case is a prime example. It showed how mining pools can fuel Ponzi schemes, robbing victims of hundreds of millions of euros.

Crypto markets are heating up. Bitcoin has reclaimed the $67,000 mark. An analyst who nailed the 2022 crash is now bullish. Capo, a pseudonymous trader, shared his views on X. He's got 864,100 followers there. He reckons both Bitcoin and altcoins are set to pop. "BTC is pumping, especially after reclaiming $60,000-$61,000," Capo said. He added, "Altcoins also seem to have found their local bottom. In my opinion, the best is yet to come." On Telegram, Capo dug deeper into Bitcoin's prospects. He sees $73,200 as the next big target. That's after Bitcoin clears $68,000. "We should expect higher prices," he noted. "The main target would be the upper liquidity zone (red zone)." Bitcoin was trading at $67,339 at press time. It's been on a tear lately. Capo's not just bullish on Bitcoin. He's eyeing altcoins too. He's watching the OTHERS chart closely. It tracks smaller cryptos' total market cap. OTHERS flipped $240 billion from resistance to support. Capo sees this as a green light for altcoin rallies. "Nice bounce from the blue zone," Capo observed. He added, "Now the next step is a clean reclaim of the green zone, starting with bullish price action above the blue line. That would be a sign of strength." OTHERS was sitting at $242.914 billion when we checked. It's been climbing steadily. Capo's also got his eye on FET. It's the token of Artificial Superintelligence Alliance. This project merged three AI-focused protocols: Fetch.ai, Singularitynet, and Ocean Protocol. FET retested $1.25 as support. Capo's bullish on it. He simply stated, "A chart is worth a thousand words." FET was trading at $1.46 at the time of writing. It's been holding up well in the current market.