Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and Solana (CRYPTO: SOL) may no longer be the strongest crypto trade heading into the next cycle as capital rotates toward protocols tied to AI, privacy and on-chain applications, according to Real Vision chief crypto analyst Jamie Coutts.
The “Lull In Crypto”
Speaking on the Milk Road Show on June 2, Coutts argued the next 12 to 24 months could mark the beginning of an “agentic” economy powered by blockchain infrastructure rather than speculative meme-driven narratives.
Coutts believes liquidity continues flowing into AI equities because those businesses currently have stronger earnings and growth narratives than crypto.
On the other hand, the global cryptocurrency market capitalization fell to $2.3 trillion from nearly $2.7 trillion less than a month ago.
Coutts added that Bitcoin failed to reclaim key resistance around $85,000, while on-chain activity across major blockchains stayed muted. He noted that crypto remains stuck in a “lull even as everything else rips.”
More Downside For BTC?
Near term, Coutts warned Bitcoin may still revisit the mid-$60,000 range before a larger cycle reset forms. However, he called any move into the $60,000s a “strong accumulation zone” on a long-term horizon.
Over the past week, Bitcoin, Ethereum and Solana have each fallen more than 10% amid heavy institutional selling pressure.
Why AI-Crypto Apps Are Winning
While Bitcoin and major Layer-1 chains struggle, Coutts said a handful of crypto sectors like AI-integrated protocols, privacy infrastructure, on-chain perpetuals are already seeing meaningful fundamental growth.
The analyst pointed to the developing strength in Hyperliquid, measured by Hyperliquid Strategies Inc NASDAQ: PURR), NEAR Protocol (CRYPTO: NEAR), Venice, Zcash (CRYPTO: ZEC) and Derive.
He added protocols generating real on-chain growth and revenue are beginning to separate from “vaporware” projects.
“Growth is the predominant factor,” Coutts said and that “correlates to higher prices.”
He also argued AI agents and automated commerce systems will eventually require blockchain rails to move value globally.
Image: Shutterstock
Recent Comments