Analyst says Bitcoin may hold up despite mounting risk-off signals

Real Vision crypto market analyst Jamie Coutts said Bitcoin may prove more resilient than expected even as risk-off signals emerge in the dollar, the MOVE index and other markets. In a post on X, Coutts said debt has risen faster than liquidity since 2021, with markets beginning to show signs of stress again. He said similar moves are now visible in the dollar, the MOVE index, long-term Treasury yields and credit markets, adding that stocks and liquidity-sensitive assets such as BTC have historically weakened in that environment. Coutts added, however, that BTC already underwent a sharp correction earlier than expected and is not showing excessive leverage or crowded positioning, which could help it hold up even if a risk-off phase unfolds.