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Why Alt Season Never Happened: Understanding Liquidity

2026-02-20 Entertainment
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Benjamin Cowen
Benjamin Cowen
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Description

Let's talk about why alt season did not happen this cycle. For years, we have talked about Bitcoin Dominance and why it was important. We discussed social interest and monetary policy. Now we have published a liquidity risk metric which helps identify the macro regime we are in so that we can understand what is trying any given bull market or crisis. Into The Cryptoverse Premium (Use code ITC50 for 50% off your first month!) https://intothecryptoverse.com For inquiries and to sign up for the monthly macro memo: https://www.benjamincowen.com/ Into The Cryptoverse Newsletter: https://newsletter.intothecryptoverse.com/ LIFETIME OPTION: https://intothecryptoverse.com/product/subscription-to-the-premium-list-lifetime/ Alternative Option: https://www.patreon.com/intothecryptoverse Merch: https://store.intothecryptoverse.com/ Disclaimer: The information presented within this video is NOT financial advice. Telegram: https://t.me/intocryptoverse Twitter: https://twitter.com/intocryptoverse TikTok: tiktok.com/@benjamincowencrypto Instagram: https://www.instagram.com/bjcowen/ Discord: https://discord.gg/UGwc6eR Facebook: https://www.facebook.com/groups/intothecryptoverse Reddit: https://www.reddit.com/r/intothecryptoverse/ Website: https://intothecryptoverse.com/

Top Comments (10)

@xoxTrader 2026-02-20

very much tired of this market damn

138 10 replies
@CS1127_ 2026-02-20

I know Ben is talking about my alts

71
@AncientArsalan 2026-02-22

Euphoria coming in 2065

45
@Anmol_Thakur888 2026-02-20

The brilliance is that he makes such complex things make some meaning somehow, while other youtubers also talk about these things but he makes it simpler and logical to understand.

26
@blenderGuy1234 2026-02-20

He said the euphoria line!

21
@irc1414 2026-02-20

Polymarket: How many times did ben said euphoria?

20
@fordprefect383 2026-02-20

The liquidity risk indicator makes a lot of sense. Thanks for sharing. Would be great to include this in future written reports as well.

12 1 replies
@ToastedBreadIsToast 2026-02-20

Simply put, business cycle is in its derisking phase, preparing for the loose monetary policy. Genius Liquidity Risk chart! Thanks for sharing, Ben.

8
@benjaminjcowen 2026-02-19

Into The Cryptoverse Premium (Use code ITC50 for 50% off your first month!) https://intothecryptoverse.com For inquiries and to sign up for the monthly macro memo: https://www.benjamincowen.com/

4 5 replies
@MaxGDesign 2026-02-21

Hey Ben, Ive been following you since 2020, where I partook in some wreckage despite your warnings. Ive since followed you and stayed out of all investing until recently. Thanks so much for all the consistency and education. I hope to buy you a drink some day

2

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