Analyst Benjamin Cowen Issues Bitcoin Warning as BTC Begins Weekly Decline Heres His YearEnd Outlook

Coin World News Report:
Following a warning from a prominent cryptocurrency analyst, Bitcoin (BTC) failed to break through and fell to the $66,000 range earlier on Monday.
In a recent video update, cryptocurrency strategist Benjamin Cowen, with 818,000 subscribers on YouTube, told his audience that Bitcoin’s current situation bears resemblance to the market correction in 2019.
“If Bitcoin truly starts to falter, if it cannot break this (around $70,000) resistance level, if it starts to falter, then it will start to resemble more of what happened in 2019…What doesn’t necessarily happen is when Bitcoin (in 2019) broke out, we had 75 basis points of rate cuts and quantitative easing (QE). We don’t really have that now.”


Source: Benjamin Cowen/YouTube
Cowen suggests that it may require another rate cut by the Federal Reserve to push Bitcoin past the resistance level.
“If Bitcoin is rejected for whatever reason, and people are wondering what happened, then I think you only revert back to this question of, well, maybe we need to cut rates again, maybe we need more QE to get to higher levels.”
At the time of writing, Bitcoin is trading at $66,948, down 2.4% in the past 24 hours.
Looking ahead to the remainder of the year, Cowen told his 869,100 followers on social media platform X that Bitcoin dominance (BTC.D) could reach 60% within less than three months. BTC.D tracks the percentage of the total cryptocurrency market capitalization belonging to Bitcoin.
“After the first rate cut, I said BTC dominance would spike to 59%, then come back down, and then slowly decline to 60% by EOY (end of year). I think that path is still on track. BTC dominance will reach 60% by EOY.”


Source: Benjamin Cowen/X
Analysts are also closely watching the US Dollar Index (DXY), which measures the value of the US dollar against a basket of other widely traded global currencies.
A strengthening DXY may indicate increased selling pressure on Bitcoin and other digital assets, as investors may shift funds into the US dollar.
“Another week, another high for DXY. Many people believed DXY would collapse a few weeks back. I think it’s been on the rise through EOY, then down in 2025.”