Jurien Timmer says Bitcoin is nearing long-term support near $58,000 and could hover around that level for months as investor flows have rotated from Bitcoin to gold and then semiconductor stocks.
Fidelity Global Macro Director Jurien Timmer said Bitcoin is approaching the lower support line of a power law model built on its full price history, with long-term support now around $58,000 versus a current price near $62,700. Timmer did not say the market has bottomed, and said Bitcoin may trade near that support for months as investor flows rotated from Bitcoin to gold and then to semiconductor stocks. The comments add a more cautious near-term framing to earlier Fidelity commentary that placed Bitcoin in an accumulation zone near its power law support line, a level some investors track as a broad guide to longer-term cycle positioning rather than a precise trading signal.