Purge of millions of crypto tokens underway, BTC needs it for sustainable bull cycle: Ben Cowen

Researcher and market analyst Ben Cowen says the purge of millions of altcoins is already underway and is necessary for a sustainable bitcoin bull market to be in place. \nWhat to know : Analysts say a lasting bitcoin bull market requires a painful purge of thousands of speculative “junk coins,” a process already well underway since 2021. Bitcoin’s dominance has climbed back above 60% as capital exits failed altcoins and memecoins, with some research suggesting it could approach 70% by 2030. Despite bitcoin’s recent move above $81,000, several veteran traders and analysts expect further downside and do not foresee a new all-time high in 2026.