Analysis: The crypto market needs a major purge of "junk coins" before Bitcoin can embark on a sustainable bull market.

Crypto market analyst Ben Cowen, founder of Into The Cryptoverse, stated that the crypto market is experiencing a "weeding out" of millions of altcoins, a process necessary for Bitcoin to enter a sustainable bull market cycle. While a "garbage coin cleanup" has been underway since 2021, a larger-scale clearing is still needed for the market to return to a healthy structure. He believes that funds are continuously flowing from high-risk tokens to Bitcoin, and the continued rise in BTC dominance is a clear signal. Data shows that GeckoTerminal tracks over 25 million token deployments, with over 11.6 million projects failing in 2025 alone, primarily due to the bursting of the Meme coin bubble. CoinShares researcher Luke Nolan stated that the claim that "95% of tokens are worthless" is reasonable. Despite Bitcoin's recent rebound above $81,000, Ben Cowen remains cautious, believing BTC is still in a bear market and warning that if it fails to hold above the key resistance level of around $88,880, the price could pull back to the $58,000 to $62,000 range. With the Federal Reserve delaying interest rate cuts and ongoing geopolitical risks, the crypto market continues to face short-term pressure. "2026 is more like a reset year than a year of new highs," he stated. (CoinDesk)