According to crypto analyst Benjamin Cowen, the Federal Reserve will likely keep interest rates high for longer, which will negatively impact risky assets like altcoins. Cowen believes the Fed will only consider cutting interest rates when the S&P 500 experiences significant corrective movement. He suggests that investors should view the S&P 500 as an indicator of when altcoins will turn around relative to Bitcoin. As long as the stock market remains high, Cowen expects Bitcoin ($BTC) dominance to continue to increase, causing altcoins to lag. Historically, $BTC tends to reverse its upward trend when the Fed begins to cut rates. Cowen predicts that until the Fed starts cutting rates, crypto investors will redirect their capital from altcoins to Bitcoin.