Bitcoin is approaching a support level close to $58,000 in the power-law model, and on July 12 it entered the accumulation zone. According to Fidelity’s global macro head Jurien Timmer, via CoinDesk on July 12, Bitcoin is nearing its long-term power-law model support level of roughly $58,000. With the current price close to $62,700, Bitcoin has already entered the “accumulation zone” defined by the model; this zone previously corresponded to the market bottoms of 2018 and 2022. The model shows that Bitcoin’s trading price is about 56% below its power-law trend line. However, Timmer noted that the market lacks key catalytic factors to support a short-term price reversal; the speculative premium that propelled Bitcoin to above $120,000 last year has largely faded, and global money supply growth is slowing. #LAB两日腰斩53%