According to crypto analyst Jamie Coutts, Bitcoin is poised to surpass its previous all-time high of $109,000 sooner than many anticipate, potentially reaching $123,000 by June. This assertion comes despite ongoing macroeconomic volatility in the U.S. and uncertainties surrounding President Trump's tariffs. Coutts attributes this optimism to easing financial conditions and increased liquidity from the People's Bank of China, alongside a significant decline of the U.S. dollar. As of now, Bitcoin is trading at $85,880, reflecting a 3.16% decline over the past month. Furthermore, Coutts' forecast suggests that Bitcoin's price could range from $102,000 to $123,000 within 90 days based on historical data from the U.S. Dollar Index. Meanwhile, analysts from BlackRock indicate that Bitcoin could thrive even amidst a recession, further underlining the asset's potential as a hedge during economic downturns. However, CryptoQuant's Bull Score Index currently indicates weak market conditions for Bitcoin, suggesting possible continued bearish trends in the near future.

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