Jamie Coutts sees Bitcoin bear market maturing

Real Vision’s Jamie Coutts says $BTC may be entering the second half of its bear market.
The key idea is that downside momentum appears to be fading, even if the broader market structure is still not fully bullish.
He also sees a potential path toward $200,000 to $250,000 if conditions improve.
For Bitcoin, the bigger signal is that analysts are starting to look beyond the current weakness and focus on the next major cycle setup.
The key question is whether liquidity, ETF demand, and macro conditions can support that upside path.