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

Jurien Timmer, Global Head of Macro at Fidelity, stated that Bitcoin is approaching the lower support line of its "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 the "accumulation zone" defined by the model.

However, Jurien Timmer did not confirm that the market has bottomed out. Instead, he believes that Bitcoin may not experience an immediate rapid rebound but is more likely to oscillate near 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, the market's hotspot is still primarily concentrated in the semiconductor field.