Crypto analyst Jason Pizzino believes Bitcoin still has upside potential, supported by a weakening U.S. dollar and strength in traditional equity markets.
In his latest market update, he suggested that the current macro environment favors further gains for BTC.
Pizzino expects continued downward pressure on the U.S. dollar, which he views as a positive factor for Bitcoin at this stage of the market cycle. He sees the relationship between a declining dollar and rising BTC as intact, especially as Bitcoin maintains its upward trajectory.
He also pointed to the S&P 500’s performance as a supporting indicator. While the index hasn’t yet reached a new all-time high, Pizzino noted that the strong trend and breakout from recent consolidation could create favorable conditions for Bitcoin to follow with similar upward movement.
However, he warned that Bitcoin may be entering the final phase of its bull market. He observed growing activity from companies holding BTC on their balance sheets—many of which have seen their stock prices rise primarily due to Bitcoin exposure rather than business fundamentals.
Pizzino cautioned that such behavior often appears near market tops and contributes to increased leverage in the system, a dynamic that typically plays out at the end of a cycle.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/bitcoin-could-climb-higher-as-dollar-weakens-says-analyst/