Jurrien Timmer: Bitcoin is approaching the support level of the power-law model, and the macro environment lacks upward momentum
According to U. Today, Jurrien Timmer, Global Macro Director at Fidelity, stated that Bitcoin is approaching the power law model support level of $58237, but the current macro environment lacks a bullish catalyst and the trend reversal is not yet clear. Jurrien Timmer pointed out that speculative funds are shifting from alternative value storage tools to the high flying technology sector. The power-law support line of Bitcoin served as a mathematical safety net in 2015, 2018, and 2022.