Fidelity analyst: The bottom of the crypto bear market may have formed, paving the way for a new round of expansion

PANews, February 15th – According to Bitcoin.com, Jurrien Timmer, Director of Global Macro at Fidelity, stated on the X platform that bitcoin recently dropped to $60,000, touching the support area he predicted months ago, suggesting that the bear market bottom may have formed and a new round of expansion could begin. He pointed out that the drop to $60,000 is relatively shallow, and as bitcoin matures, its volatility will gradually decrease. He expects that after several months of consolidation, a new cyclical bull market will start and potentially reach new highs.

Timmer, in his accompanying chart analysis, noted a correlation between bitcoin price and global money supply, with $60,000 serving as a technical support level. Another chart, "The Road to Bitcoin Maturity," illustrates its historical waves: from the early $2 and $24, to the breakthrough high of $64,000, and points to a projected sixth wave region at $290,425. This model integrates adoption curves and macro variables, outlining a long-term framework toward $1 million. He emphasized that if cyclical patterns and adoption trends continue, bitcoin is likely to follow a structured maturity path after consolidating around $60,000.