Bitcoin: Analyst: Market Underestimates Rapid ATH Surge
Hold onto your hats, Bitcoin enthusiasts! Despite the recent ups and downs in the US economy, one crypto analyst believes Bitcoin is gearing up to smash through its $109,000 all-time high sooner than you might think.
Jamie Coutts, the main crypto brain at Real Vision, told Cointelegraph that he thinks the market might be underestimating just how fast Bitcoin could take off. He suggests we could see new record highs even before the second quarter of the year wraps up!
And get this – he’s sticking to his guns whether or not we get more clarity around Trump’s potential tariffs or any worries about a recession in the US. Basically, he’s saying his prediction stands strong, no matter what.
Trump’s tariffs blamed for Bitcoin’s recent downtrend
Bitcoin
took a dip below $100,000 around February 2nd, and a lot of folks in the market pointed fingers at Trump’s recently introduced tariffs and the uncertainty swirling around US interest rates as the culprits.
But Coutts is feeling optimistic about a Bitcoin comeback. He’s basing his upbeat forecast on a few key things: financial conditions are becoming more relaxed, the US dollar is losing some steam, and the People’s Bank of China has been injecting more money into the system since early 2025.
He pointed out, “Financial conditions have really loosened up this month, you can see it in the US dollar’s big three-day drop – the largest since 2015! Plus, we’ve seen significant decreases in interest rates and Treasury bond volatility.”
“When it comes to investing in any asset class, it really all boils down to liquidity,” he added, emphasizing the importance of available capital.
Bitcoin has dipped 3.16% in the last month. Source: CoinMarketCap
As we’re writing this, Bitcoin is currently trading at $85,880, reflecting that 3.16% decrease over the past month, according to data from CoinMarketCap.
Coutts pointed to his X post from March 7th. Looking at the US Dollar Index (DXY) through a “historical lens,” he explained why he’s feeling “nothing but bullish” about Bitcoin.
Based on how the DXY has performed in the past, Coutts is forecasting Bitcoin’s price for June 1st. He sees a range from a not-so-bad case of $102,000 all the way up to a best-case scenario of $123,000!
Source: Jamie Coutts
Hitting that higher target of $123,000 would mean Bitcoin jumps another 13% beyond its current peak of $109,000, which it hit back on January 20th.
Interestingly, Robbie Mitchnick, the head honcho of digital assets at BlackRock, recently suggested that Bitcoin is actually likely to do well if the economy heads into a recession.
“I can’t say for sure if we’re heading for a recession or not, but a recession could really be a boost for Bitcoin,” Mitchnick mentioned in a Yahoo Finance interview on March 19th.
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This all comes at a time when Bitcoin’s market conditions are actually showing their “least bullish signs” since January 2023, according to data from CryptoQuant.
CryptoQuant’s Bull Score Index is currently sitting at just 20, the lowest it’s been since January 2023. This low score suggests Bitcoin’s market is currently weak, and we might not see a big rally anytime soon.
Historically, if this Bull Score stays below 40 for a while, it could point to ongoing bearish market conditions, similar to what we’ve seen in previous bear markets.
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**Important note:** This article is for informational purposes only and shouldn’t be taken as investment advice. Remember, all investing and trading carries risk, and you should always do your own homework before making any decisions.
