Raoul Pal: The Journey Man

Is Bitcoin Giving Way to Altcoin Season? ft. Jamie Coutts from Real Vision PRO

31 snips
Sep 18, 2025
In this discussion, Jamie Coutts, Chief Crypto Analyst at Real Vision, dives into the evolving crypto landscape. He explores the shift from Bitcoin dominance to high-quality altcoins, emphasizing the criteria for identifying strong tokens. The conversation highlights vital metrics such as settlement value and liquidity cycles. Jamie also discusses the rapid growth of on-chain activity, comparing crypto's settlement volumes to traditional finance and shedding light on emerging layer-1 chains. This analysis reveals the dynamics shaping the future of digital assets.
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INSIGHT

Market Psychology Repeats

  • Market psychology repeats: each cycle feels different but echoes the last, producing scar-tissue reactions.
  • Jamie Coutts warns current commentary is a mechanical response to expected cycle timing rather than fresh insight.
INSIGHT

Bitcoin Dominance Is Falling

  • Bitcoin dominance is falling as capital rotates into high-quality altcoins, a typical mid-cycle pattern.
  • Coutts observed the shift accelerating around Q2 and becoming clear by July via on-chain and ETF flow data.
INSIGHT

Alt Season Favors Quality

  • The current alt-season favors quality: cash-flowing L1s and revenue-generating protocols.
  • Coutts expects discerning rotation into high-quality projects, not a repeat of 2021's 'dash for trash'.
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