#MarketPullback #CryptoMarketWatch
On March 10, RealVision crypto analyst Jamie Coutts suggested that a weakening dollar could strengthen Bitcoin, but two key indicators pose short-term risks. While the dollar's decline makes his outlook more bullish, he remains cautious due to rising U.S. Treasury volatility (MOVE Index) and widening corporate bond spreads.
Coutts describes Bitcoin as a global central bank-driven game. The MOVE Index, which tracks expected volatility in the U.S. Treasury market, is stable but trending upward. If Treasury volatility spikes, liquidity could tighten further. Meanwhile, corporate bond spreads have widened for three consecutive weeks, a pattern that often coincides with Bitcoin price peaks.
Despite these warning signs, Coutts notes that the dollar’s sharp depreciation—one of its largest monthly drops in 12 years—remains a significant bullish factor in his framework.