According to U Today, Fidelity Investments' Global Macro Director Jurrien Timmer said that Bitcoin is approaching a key technical level near its long-term algorithmic bottom, with about $60k serving as an important psychological and technical pivot.



Timmer stated that according to Bitcoin's "Power Law" model, the current support baseline is at $58,237, and the bottoms in 2015, 2018, and 2022 were all close to that model's support level.

However, due to the lack of bullish catalysts in the current macroeconomic environment and slowing global liquidity growth, Bitcoin's speculative premium has been consumed. The short-term trend reversal remains unclear, and a real reversal may only form after a period of stagnation along this support line.
BTC1.20%
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