US dollar plunge powers Bitcoin bull case, but other metrics concern: Analyst

Real Vision analyst Jamie Coutts says Bitcoin is playing a “high-stakes game of chicken” with central banks, giving it a cautious outlook.

A weakening US dollar could be bullish for Bitcoin, but two metrics could be cause for concern in the short term, according to Real Vision crypto analyst Jamie Coutts.

“While my framework is turning bullish as the dollar plunges, two metrics still raise alarms: Treasury Bond volatility (MOVE Index) and Corporate Bond spreads,” said Coutts in a March 9 post on X.

The analyst framed Bitcoin as a “game of chicken” with central banks, presenting a “cautiously bullish” outlook despite these concerning metrics.

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