According to a crypto analyst, Bitcoin is set to surpass its all-time high of $109,000 sooner than anticipated, despite the recent fluctuations in US macroeconomic conditions.
Real Vision’s chief crypto analyst, Jamie Coutts, shared with Cointelegraph that “the market might be underestimating the speed at which Bitcoin could soar, possibly reaching new all-time highs before the conclusion of Q2.”
This prediction holds true irrespective of the forthcoming clarity regarding US President Donald Trump’s tariffs and potential recession concerns.
Trump’s tariffs attributed to Bitcoin’s recent decline
On February 2, Bitcoin BTCUSD fell below the $100,000 mark, with many in the market blaming the drop on Trump’s newly enacted tariffs and uncertainties surrounding US interest rates.
Coutts based his optimistic rebound prediction on softened financial conditions, a weakening US dollar, and the People’s Bank of China increasing liquidity since early 2025.
“This month, financial conditions have eased significantly, as evidenced by the US dollar’s third-largest three-day decline since 2015, alongside considerable decreases in rates and Treasury bond volatility,” he stated.
“Liquidity continues to play a vital role in investing across all asset classes,” he added.
As of the time of publication, Bitcoin is priced at $85,880, representing a 3.16% drop over the past month, according to CoinMarketCap data.
Coutts referred to his post from March 7, where he indicated that based on the recent movements of the US Dollar Index (DXY) from a “historical perspective,” it is difficult to be anything but “bullish” regarding Bitcoin.
From the standpoint of historical DXY performance, Coutts projected that by June 1, Bitcoin’s 90-day forecast could range from a worst-case scenario of $102,000 to a best-case scenario of $123,000.
The higher target would indicate a 13% increase over its previous all-time high of $109,000, which was attained on January 20.
Robbie Mitchnick, head of digital assets at BlackRock, recently stated that Bitcoin is likely to prosper in a recessionary macroeconomic landscape.
“While I can’t definitively say whether we’ll face a recession, it would be a significant catalyst for Bitcoin,” Mitchnick remarked during a March 19 interview with Yahoo Finance.
This coincides with Bitcoin facing its “least bullish conditions” since January 2023, as reported by CryptoQuant.
According to CryptoQuant’s Bull Score Index, which is currently at 20—its lowest since January 2023—this suggests a weak Bitcoin market with limited potential for a strong rally in the near future.
If the score remains under 40 for a prolonged period, historical performance indicates it could lead to ongoing bearish market conditions, similar to phases experienced in prior bear markets.
This article does not provide investment advice or recommendations. All investments and trading activities carry risk, and readers are encouraged to conduct their own research before making any decisions.
