In the debut episode of the CryptoQuant Unbiased podcast, host Ben Sizelove brings together Julio Moreno (Head of Research, CryptoQuant) and Jamie Coutts (Chief Crypto Analyst, Real Vision) for a wide-ranging macro and on-chain breakdown of where Bitcoin and the broader crypto market stand today.

Topics include why global liquidity is expanding but Bitcoin has still underperformed, how the transmission mechanism has shifted from central banks to the Treasury, and what drove the depth and speed of the Q4 2024 drawdown. Jamie and Julio break down why the M2/Bitcoin correlation broke down, whether the February 2025 low was a genuine capitulation, and what on-chain metrics like MVRV Z-score and SOPR say about current positioning. They also get into ETF and MicroStrategy demand as structural market changes, the four-year cycle, weekly RSI divergences, the altcoin landscape, and practical advice for sizing a crypto portfolio.

Follow the guests:

Jamie Coutts — x.com/Jamie1Coutts | realvision.com

Julio Moreno — x.com/jjcmoreno

Ben Sizelove — x.com/BenSizelove

CryptoQuant: cryptoquant.com

Research & Reports: cryptoquant.com/research

CryptoQuant MCP: mcp.cryptoquant.com