Fidelity: Bitcoin is Approaching the Lower Support Line of the "Power Law Model," Potentially Entering a Historical Accumulation Zone

Odaily reports that Jurien Timmer, Global Head of Macro at Fidelity, stated that Bitcoin is approaching the lower support line of the "Power Law Model," which is based on Bitcoin's complete price history. This long-term support level is currently around $58,000. With Bitcoin's current price at approximately $62,700 and gradually approaching this zone, it may have entered what the model defines as the "accumulation zone."

However, Jurien Timmer did not confirm that the market has bottomed out. Instead, he believes that rather than an immediate rapid rebound, Bitcoin may fluctuate around the long-term support line for several months. Short-term capital has already exited, and fund flows have rotated from Bitcoin to gold, and then from gold to the semiconductor sector. Currently, market hotspots remain largely concentrated in the semiconductor field.