Liquidity Drought, Not Strategy, Drives Bitcoin's Decline
According to Jamie Coutts, Real Vision's chief crypto analyst, Bitcoin's recent decline can be attributed to weak demand and tightening global liquidity rather than the actions of a single company like Strategy.
Coutts made this argument on Michaël van de Poppe's podcast, highlighting that the broader market simply lacked enough buyers to sustain higher prices.
He pointed to long-term holder activity, which reportedly peaked during the third quarter of last year, a pattern often associated with the later stages of a market cycle.
Coutts acknowledged that his own risk model had signaled a possible peak earlier than expected, interpreting it as a warning of a 30% to 40% correction, and now believes the signal may have marked the top of the entire cycle.