TechFlow reports, July 13, according to CoinDesk, Fidelity Global Macro Head Jurien Timmer stated that Bitcoin is approaching the lower support line of its long-term power law price model, with the current position nearing the historical support range of approximately $58,000. The model shows that Bitcoin's deviation relative to the trend line has entered an "accumulation zone" that previously corresponded to the lows in 2018 and 2022.
However, he did not explicitly judge that Bitcoin has bottomed out. He pointed out that the speculative premium that drove Bitcoin to previous highs has largely dissipated, global money supply growth is slowing, and the market currently lacks liquidity catalysts sufficient to drive a reversal. His judgment is that Bitcoin is more likely to trade sideways near the support line for months rather than rebound quickly.
