Svmuu News: Jurien Timmer, Head of Global Macro at Fidelity, stated that Bitcoin is approaching the lower support line of its “power-law model”—which is based on the complete price history from Bitcoin—with this long-term support level currently at approximately $58,000.while Bitcoin is currently trading at approximately $62,700 and is gradually approaching this zone, or may have already entered the “accumulation zone” defined by the model.
However, Jurien Timmer did not confirm that the market has bottomed out; rather, he believes that Bitcoin may not see an immediate, rapid rebound but will instead consolidate near the long-term support line for several months,Short-term capital has already exited the market, and capital flows have rotated from Bitcoin to gold, and then from gold to the semiconductor sector; currently, market speculation remains primarily focused on the semiconductor sector. (CoinDesk)