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If you’re tracking altcoins waiting for a real turnaround, analyst Jamie Coutts says the signs are building, but the confirmation isn’t fully here yet. Here’s what he’s watching, and where he’s already putting money to work.
Is the Bottom Actually In?
Bitcoin has been stuck in the low $60,000s since February, following what Coutts calls a capitulation low. Since then, price has mostly moved sideways, with one counter-trend rally of about 30%, which he says is normal behavior for Bitcoin bear markets.
His signal to watch: Bitcoin needs to break above the high $70,000s to confirm the downtrend has actually reversed. Until that happens, he’s treating this as a probability game, not a done deal.
The Technical Clue: Bullish Divergence
Coutts points to weekly RSI divergences as his go-to signal for spotting when a downtrend is losing steam. In simple terms, that’s when price keeps falling but momentum indicators stop confirming the drop. It’s a warning sign, not a green light.
He had flagged the opposite pattern back in September and October of last year, when Bitcoin kept hitting new highs while momentum quietly weakened underneath. That divergence preceded the market’s eventual top and the 50% to 55% decline that followed. Now he’s watching for the mirror image. Divergence building at the bottom, waiting to be confirmed by an actual higher high and higher low.
Where He’s Already Putting Money to Work
Coutts has already started adding top Layer 1 tokens and blue chip DeFi tokens, positions he’s built using what he describes as his largest cash reserve in years, held throughout most of 2026.
Some of those DeFi protocols are currently trading 70% to 80% below their highs, and he says he’s specifically targeting names showing relative strength against the broader market, rather than simply buying anything that’s fallen hard.
He’s not fully deployed yet, though. He says he is still holding cash in reserve for a possible dip later this year, citing ongoing concerns about global liquidity. Specifically, he thinks debt is growing faster than liquidity itself. That mismatch, he believes, could eventually force higher interest rates or intervention from central banks.
On Solana and Ethereum
Coutts says he remains bullish on Solana, despite being accused of favoring ETH more heavily in recent commentary. For now, he’s staying focused on established Layer 1s and DeFi blue chips rather than chasing smaller, more speculative tokens, including a few names in the AI sector he described as interesting but secondary to his core focus.