Fidelity: Bitcoin is approaching the bottom support line of the "power law model" and may enter its historical accumulation zone

ChainCatcher reports that Fidelity's Global Macro Director, Jurien Timmer, stated that Bitcoin is approaching the bottom support line of its "power law model," which is built based on Bitcoin's complete price history. This long-term support level is currently around $58,000, while Bitcoin's current price is about $62,700, gradually nearing this zone and possibly entering the "accumulation area" defined by the model.

However, Jurien Timmer did not confirm that the market has bottomed out. Instead, he believes that Bitcoin may not experience a rapid rebound immediately, but could oscillate near the long-term support line for several months. In the short term, funds have exited the market, with capital flows rotating from Bitcoin to gold, and then from gold to the semiconductor sector. At present, market focus remains mainly concentrated in the semiconductor field.