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[Fidelity Executive: Bitcoin Approaching Long-Term 'Power Law' Support Level, Still Lacks Reversal Catalyst] BlockBeats News, July 3, Fidelity Investments Global Macro Director Jurrien Timmer stated that Bitcoin is approaching the long-term Power Law model support level, potentially facing a critical technical test. Currently, the model's support line is at $58,237, while $60,000 is considered an important psychological and technical threshold. Additionally, Jurrien pointed out that due to the slowdown in global liquidity growth and speculative funds continuing to flow into tech stocks and other risk assets, Bitcoin still lacks a macro catalyst strong enough to drive a trend reversal. Although this model's support level has historically often marked market bottoms, Bitcoin may continue to consolidate in this area for some time, awaiting a more favorable macro environment to trigger a new round of upward movement. [Original Link]