Central banks are primed to print money in the first quarter of 2025, according to Jamie Coutts, Real Vision’s chief digital assets analyst.
Coutts says on the social media platform X that his “base case is still central bank intervention this quarter,” though he acknowledges political influences can make monetary policy predictions difficult.
“We are also three years into a liquidity impasse, and with global debt at 340% of gross domestic product (GDP), there is a lot of debt to roll.
The most important thing to remember: In a credit-based fiat fractional system… The spice must flow. AKA — monetary expansion is inevitable. It’s just a matter of time.”
Coutts adds that the “key variable” for Bitcoin (BTC) is the US dollar index (DXY), which pits the USD against a basket of other major foreign currencies.
“It has pulled back from 110 and sits at 107—the previous 2-year resistance. Likely bounce here, but a breakdown = BTC all-time highs.”
BTC is trading at $102,406 at time of writing. The top-ranked crypto asset by market cap is down nearly 1% in the past 24 hours and nearly 6% from its all-time high of $108,786, which it set last Monday.
The DXY sits at 107.43 at time of writing, according to MarketWatch.
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