Solana

Vision

Value

Strong

Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/jamie-coutts-predicts-strong-bitcoin-recovery-in-the-market/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Jamie Coutts Predicts Strong Bitcoin Recovery in the Market</a><br></p>
<p style="text-align: justify">Real Vision analyst Jamie Coutts indicates that a robust recovery in the Bitcoin market is imminent. In his assessment on the social media platform X, he noted that nearly all indicators he uses to measure the health of Bitcoin’s market cycle have exited the “overheated” zone. This situation presents a positive outlook for BTC.</p>
<h2 style="text-align: justify" id="normalization-of-market-indicators">Normalization of Market Indicators</h2>
<p style="text-align: justify">Coutts emphasizes that Bitcoin’s consolidation process over the past seven months has cooled down the valuation metrics, which were excessively high in the first quarter. Notably, significant declines have been observed in indicators such as MVRV, Puell, LTH SOPR, and Network Value to Addresses, all dropping below 50%. With the exception of Open Interest, all these metrics have returned to normal levels.</p>
<p style="text-align: justify">He pointed out that the selling pressure was largely due to excessive leverage in the derivatives market, which has now been cleared. In September, the Puell Multiple indicator briefly dipped into the oversold region, while network security reached new highs. Coutts describes this scenario as a “classic reload signal.”</p>
<h2 style="text-align: justify" id="competition-between-ethereum-and-solana">Competition Between Ethereum and Solana</h2>
<p style="text-align: justify">Beyond Bitcoin, Ethereum ‘s competitor Solana (<a href="https://en.coin-turk.com/solana-sol-rises-over-200-in-2023-the-power-of-staking/" data-wpel-link="internal" rel="noopener noreferrer nofollow">SOL</a>) is also gaining attention. Coutts states that Solana has stood out among smart contract platforms, particularly signaling upward trends in USD and BTC pairings. Despite high volatility, he adds that momentum strategies in October have proven successful with Solana and similar <a href="https://en.coin-turk.com/exploring-the-potential-rise-of-altcoins-in-the-crypto-market/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto</a> assets.</p>
<p style="text-align: justify">“In this cycle, Solana is ahead of major layer-1 platforms, and October strategies yielded good results,” Coutts remarked. Currently, Bitcoin trades at around $69,173, while Solana hovers around $165. Coutts notes that the Solana/BTC ratio has yet to explode and should be monitored closely.</p>
<h2 style="text-align: justify" id="increase-in-global-liquidity">Increase in Global Liquidity</h2>
<p style="text-align: justify">The recent upward trend in global liquidity may positively impact Bitcoin and other <a href="https://en.coin-turk.com/venture-capital-investments-show-recovery-in-crypto-market/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrencies</a>. Analysts’ evaluations point to potential bullish signals for Bitcoin and Solana, indicating significant data for those seeking to make strategic decisions about the market. The performance of leading crypto assets like Bitcoin and Solana can play a crucial role in overall market health and investment trends.</p>
<p style="text-align: justify">Investors can make informed decisions by closely monitoring market indicators. This process will aid them in understanding the broader implications for their investments.</p>
<p>The post <a href="https://en.coin-turk.com/jamie-coutts-predicts-strong-bitcoin-recovery-in-the-market/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Jamie Coutts Predicts Strong Bitcoin Recovery in the Market</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Jamie Coutts Predicts Strong Bitcoin Recovery in the Market

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