Jamie Coutts, chief crypto analyst at Real Vision, stated that the US dollar is about to block the rise of Bitcoin and digital assets. Stating that the long-term positive outlook continues, Coutts emphasized that the strength of the dollar threatens Bitcoin’s movements in the short term.
Impact of Dollar on Bitcoin
Coutts said that the macroeconomic environment has become negative and the strengthening of the dollar is not good for Bitcoin. He also added that the liquidity framework is sensitive to short- and medium-term momentum changes.
“The macro background has deteriorated. “The strength of the dollar is not good for Bitcoin.” – Jamie Coutts
Stating that the dollar index (DXY) is traded just below the 106 level, Coutts said that if this level is exceeded, it will be negative for risky assets.
“DXY is just below the resistance level. “Exceeding here would not be good for risky assets.” – Jamie Coutts
Coutts believes there is a strong relationship between Bitcoin and global liquidity. He added that aside from short-term volatility, Bitcoin should continue to rise over the next year or two as the M2 money supply increases.
“Long term, that’s where I’m at for this cycle; a 12-month forecast based on a linear relationship with liquidity.” – Jamie Coutts
Current Status of Bitcoin
Bitcoin (BTC) at the time of writing 
$91,170 It was trading at $90,050.
Investors who closely follow the developments in the cryptocurrency market continue to observe how the strength of the dollar may affect the cryptocurrency markets. Despite the positive long-term expectations of analysts, it is emphasized that caution should be exercised in the short term.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
