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Real Vision’s chief crypto analyst, Jamie Coutts, indicates that the US dollar is poised to hinder the rise of Bitcoin and other digital assets. While he maintains a long-term positive outlook, Coutts emphasizes that the strength of the dollar poses a short-term threat to Bitcoin’s movements.
The Dollar’s Influence on Bitcoin
Coutts notes that the macroeconomic environment has worsened, suggesting that a stronger dollar is detrimental to Bitcoin. He adds that the liquidity framework is sensitive to short- and medium-term momentum shifts.
“The macro backdrop has deteriorated. The strength of the dollar is not good for Bitcoin.” – Jamie Coutts
He points out that the dollar index (DXY) is trading just below the 106 level, warning that surpassing this threshold would be negative for risky assets.
“DXY is just below a resistance level. Crossing this would not be good for risky assets.” – Jamie Coutts
The Current State of Bitcoin
Coutts believes there is a strong correlation between Bitcoin and global liquidity. He anticipates that despite short-term volatility, Bitcoin should continue to rise over the next one to two years, particularly with an increase in the M2 money supply.
“Long-term, I’m at the point for this cycle; a 12-month forecast based on a linear relationship with liquidity.” – Jamie Coutts
At the time of writing, Bitcoin (BTC) 
$105,606 was trading at around $90,050. Investors closely watching the cryptocurrency market continue to monitor how the dollar’s strength may influence these markets.
