BREAKING: Fidelity Says Bitcoin Is Entering a Long Term Accumulation Zone


Fidelity's Director of Global Macro, Jurrien Timmer, says Bitcoin is approaching the lower support line of the Power Law model, a level that has marked every major market bottom since 2015.
* Bitcoin is nearing the model's long term support around $58,000.
* Timmer believes the current price range is an accumulation zone, not necessarily a market bottom.
* He expects Bitcoin could remain near support for months before a sustained recovery.
* Timmer says slowing global liquidity and fading speculative demand mean a major catalyst is still missing.
* He also notes capital has rotated from Bitcoin into gold and more recently into semiconductor stocks.
While Fidelity views the current levels as attractive for long term accumulation, it cautions that a meaningful rebound may depend on improving global liquidity conditions#LABPlunges53PercentInTwoDays #USIranWarCloudsGather $BTC
BTC-0.62%
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