Fidelity: Bitcoin is nearing the “power-law model” bottom support line and may enter a historic accumulation zone

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Golden Finance reports that Jurien Timmer, Fidelity’s global macro strategist, said Bitcoin is nearing the bottom support line of its “power-law model,” built from a complete price history of Bitcoin. This long-term support level is currently about $58k, while Bitcoin’s current price is about $62.7k, and it is gradually moving closer to this area, or may already be entering the “accumulation zone” defined by the model.
However, Jurien Timmer did not confirm that the market has already bottomed out, and instead believes Bitcoin may not see an immediate sharp rebound. Rather, it may trade sideways for several months near the long-term support line. Short-term capital has already exited. The flow of funds has seen a rotation from Bitcoin to gold, and then from gold to the semiconductor sector. At present, the market’s pursuit of hot spots remains mainly concentrated in the semiconductor field.
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