A crypto analyst forecasts that Bitcoin could reach $123,000 by June, based on the average return from the US Dollar Index (DXY). Jamie Coutts, chief crypto analyst at Real Vision, indicates that Bitcoin may rise above its previous all-time high of $109,000 earlier than anticipated, despite macroeconomic volatility. He attributes this potential surge to easing financial conditions, a weakening US dollar, and increased liquidity from the People's Bank of China. Currently trading at $85,880, Bitcoin has seen a 3.16% decline over the past month. Coutts' projections, guided by historical DXY movements, suggest that by June 1, Bitcoin could range between $102,000 and $123,000. This optimistic outlook contrasts with current market conditions, where the CryptoQuant Bull Score Index sits at a low 20, indicating a weak market sentiment. Analysts like BlackRock’s Mitchnick suggest that a recession could serve as a significant catalyst for Bitcoin.

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