Deep Tide TechFlow message. July 13, according to CoinDesk, Jurien Timmer, Fidelity’s global macro strategist, said Bitcoin is nearing the lower support line of its long-term power-law pricing model. The current level is already close to the $58k historical support range. The model shows that Bitcoin’s deviation from the trend line has entered the “accumulation zone” that in the past corresponded to the 2018 and 2022 lows.

However, he did not explicitly judge that Bitcoin has already bottomed out. He noted that the speculative premium that previously pushed Bitcoin to high levels has largely faded, the global money supply growth rate has slowed, and the market still lacks liquidity catalyst factors strong enough to drive a reversal. His view is that Bitcoin is more likely to trade sideways for months near the support line rather than quickly rebound.