A heavy wave of US Treasury issuances, a $250 billion IPO pipeline, and a shift in big tech money toward AI spending are among the pressures that Jamie Coates says could keep markets tight for longer. the Real vision The top cryptocurrency analyst still believes that buyers of $60,000 worth of Bitcoin may get a rare long-term entry point, even if the market has not completely blown away yet.
Pressure building
Coates said the recent decline is part of a broader reset Bitcoin It is already down roughly 50% from its highs and the move is consistent with previous bear market volatility on a volatility adjusted basis. However, he stopped short of calling a bottom and said another wave of declines was still possible before the market stabilizes.
His view depends not so much on Bitcoin itself as on the state of global money flows. He pointed to crowded IPO market By withdrawing capital, Big Tech companies are reducing buybacks as they pump money into AI infrastructure, increasing the supply of Treasuries that can push yields higher.
According to him, this combination is enough to leave risky assets under pressure in the near term. However, he said the pressure cannot last forever because high borrowing costs and weak tax revenues make it difficult for the US government to keep revenues under control.
Why does $60,000 matter?
For Coates, the price zone is important because it may present long-term buyers with a level that looks cheap in hindsight. He described anything in the $60,000 range as an attractive place to accumulate bitcoin over several years, even if the market isn’t finished falling yet.
This call is not presented as a quick trade or clean timing signal. It has been more of a patient case of buying into weakness while the larger liquidity picture is still working through its next phase.
The analyst also linked expectations to the way governments and central banks react when markets are under pressure. If stocks fall sharply and tax revenues weaken, the deficit widens further and financial conditions become more difficult to manage, he said.
Why the Fed still matters
From there, Coates draws a straight line to… Federal Reserve. A more realistic escape from that pressure would be new central bank liquidity, which has often helped prop up bitcoin and other risky assets during past recessions, he said.
This leaves Bitcoin in a familiar place: weak enough to make traders cautious, but close enough to a potential support area to attract buyers who are thinking years, not weeks.
Featured image from Unsplash, chart from TradingView
