Fidelity Investments’ global macro director Jurrien Timmer said Bitcoin is approaching its power-law model support line at about $58,237, while noting that the current macro environment lacks bullish catalysts and a trend reversal is not yet clear.
According to PANews, Timmer said speculative “fast money” is shifting from alternative stores of value toward high-flying technology stocks.
He added that Bitcoin’s power-law support line has historically acted as a mathematical backstop, citing prior instances: in 2015, Bitcoin touched $230 versus model support at $252; in 2018, it fell to $3,204 versus support at $2,521; and at the 2022 bottom, it was $16,366 versus support at $15,006.
Fidelity’s Jurrien Timmer Says Bitcoin Nears Power-Law Support Around $58,237
2026-07-03 07:44:27
Disclaimer:
1. The information provided does not constitute investment advice. Investors should make independent decisions and bear all risks themselves.
2. The copyright of this content belongs to the original author. The views expressed herein are solely those of the author and do not represent the stance or position of this website.
Previous article：
Italy’s June Composite PMI Rises to 50.8
