Fidelity: Bitcoin is approaching the bottom 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 bottom support line of its "power law model," which is constructed based on Bitcoin's complete price history. This long-term support level is currently around $58,000, while Bitcoin's current price is approximately $62,700. As it gradually approaches 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 Bitcoin may not experience an immediate rapid rebound but is more likely to fluctuate near this long-term support line for several months. Short-term capital has already exited, with fund flows shifting from Bitcoin to gold and then from gold to the semiconductor sector. Currently, market hotspots remain primarily focused on the semiconductor field.