According to CoinDesk, BTC is approaching the long-term power-law price model support line of $58000. The relative trend line of Bitcoin and the degree of underestimation relative to gold have dropped to the bottom levels of 2018 and 2022, but Fidelity's Jurrien Timmer has not yet claimed that it has bottomed out. Jurrien Timmer predicts that Bitcoin may remain sideways near support levels for several months in the absence of liquidity catalysts, and points out that speculative capital has shifted from Bitcoin to gold, currently flowing into semiconductor stocks.