Real Vision analyst Jamie Coates sees the central bank's rate cuts as a sign of improved liquidity and a possible market turnaround.  In a post on X, Coates noted that the ratio of the top 200 currencies to the market weight has reached a very bearish level and is currently at minus 2.8 standard deviations, which has only happened three times before and each time indicates important points in the market.  It has been the crypto market cycle.  Coates believes the current data is similar to a mid-cycle decline in 2021, and with global liquidity improving, the outlook for quality altcoins looks favorable.