Bitcoin (BTC) Price Prediction: Analyst Jamie Coutts Targets $110,000 as Global Money Supply Hits New Highs

Jamie Coutts, chief crypto analyst at Real Vision, predicted that the Bitcoin price could reach $110,000. He revealed what will drive the BTC rally to this price target and discussed what has triggered the market rebound so far.

Renowned crypto analyst Jamie Coutts has predicted that Bitcoin's price could reach an impressive $110,000. In his analysis, he identifies several key factors driving this potential surge, including the increasing demand for BTC and its limited supply.

According to Coutts, tracking the liquidity cycle, which includes observing the global money supply, is crucial for understanding the entry points of new capital into the market. He attributes 80% of the recent Bitcoin price rally to this surge in global liquidity, with a portion of the new capital flowing into "anti-debasement" assets like cryptocurrency.

Furthermore, the recent surge in BTC's open interest to a new all-time high of $20 billion bodes well for the crypto's price aspirations. Notably, the crypto's reserves on exchanges have reached a six-year low, indicating a high demand for Bitcoin in the market.

As recently highlighted by crypto analyst Crypto Rover, this massive demand could set the stage for an impending supply shock, boding well for BTC's price trajectory.

Meanwhile, the increasing odds of Donald Trump's victory in the US elections are also seen as a positive for Bitcoin's price. According to the latest Polymarket data, Trump's chances of winning are at 60.3%, factoring into the market's assessment.

Given Trump's support for cryptocurrencies like Bitcoin during his presidency, his potential victory could bolster demand for the crypto. In related news, Pro-Bitcoin PAC Bitcoin Voters have launched their Donald Trump campaign ad to rally support for the former US President.

Moreover, crypto research firm Matrixport has adjusted its year-end Bitcoin price target, deeming $70,000 "conservative" amid Trump's rising odds. They attribute BTC's gains during Trump's previous administration to his policies, anticipating a similar trend this time around.

The firm predicts further upside for BTC in the coming weeks as Trump's chances of winning continue to improve rapidly. According to trading firm QCP Capital, BTC is on the right path to scaling new all-time highs. However, based on historical patterns observed during the last two US presidential election cycles, a new ATH might not materialize until January next year.

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