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

Odaily Planet Daily News Jurien Timmer, Global Macro Director at Fidelity, stated that Bitcoin is approaching the lower support line of its "power law model," which is based on Bitcoin's full price history. This long-term support level is currently around $58,000, while Bitcoin's current price is approximately $62,700. As it gradually moves closer to this zone, it may have entered the model's defined "accumulation zone."

However, Jurien Timmer did not confirm that the market has bottomed out. Instead, he believes that Bitcoin may not experience an immediate rapid rebound. Instead, it is likely to oscillate near this long-term support line for several months. Short-term capital has already exited the market, with fund flows transitioning from Bitcoin to gold, and then from gold to the semiconductor sector. Currently, market hotspots remain primarily concentrated in the semiconductor field.