The group's Dir. of Global Macro Jurien Timmer calls it an accumulation zone but notes the lack of a catalyst to bounce yet. Bitcoin is approaching the lower support line of a long-used power-law price model around $58,000, suggesting it is nearing a historical accumulation zone. Measures of how far bitcoin trades below its trendline and relative to gold have fallen to depths last seen at the 2018 and 2022 lows, but Fidelity’s Jurrien Timmer is not yet calling a bottom. Timmer expects bitc…
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