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Debates continue over whether Bitcoin has reached a bottom following the recent downturn in the cryptocurrency market. Amid this uncertainty, a notable analysis has come from Fidelity Investments. The company’s Global Macro Director, Jurrien Timmer, stated that Bitcoin’s recent price action may be signaling the formation of a potential bear market bottom. According to the analyst, BTC’s decline toward the $60,000 level represents a technically significant support zone. Fidelity’s assessment has revived bullish expectations among investors, strengthening optimistic long-term growth scenarios for Bitcoin.
Critical Support Level and a Possible Bottom Signal for Bitcoin
In a statement shared on the social media platform X, Timmer noted that Bitcoin has reached the support zone he had previously identified, and that this level could indicate a bear market bottom. According to him, the recent decline was met with strong technical support, potentially marking the beginning of a new expansion cycle. Timmer emphasized that Bitcoin is gradually maturing as an asset, with volatility becoming more controlled compared to previous cycles. This shift could lay the groundwork for a more sustainable and structured upward trend.
According to the Fidelity analyst, after several months of consolidation, Bitcoin may re-enter an uptrend. Stabilization around the $60,000 level could form the foundation for a new bull market cycle. Under this scenario, Bitcoin could retest its all-time highs and move into a more orderly growth phase. Timmer also reiterated that as Bitcoin matures, price fluctuations tend to decrease, which may help pave the way for a more sustainable long-term uptrend.
$1 Million Long-Term Scenario
Timmer’s chart analysis titled “Bitcoin’s Road to Maturity” examines the asset’s historical price waves and presents long-term projections. The model analyzes Bitcoin’s journey from early price levels of $2 and $24 through the breakout above $64,000. The sixth wave projection points to approximately $290,425. Based on macroeconomic variables and global adoption curves, Timmer’s long-term framework outlines a theoretical maturation path that could extend toward $1 million per Bitcoin. For this scenario to materialize, increased institutional adoption and a stronger role for Bitcoin within the global financial system would be necessary.
Evaluation
Jurrien Timmer’s analysis suggests that Bitcoin may have formed a bottom around the $60,000 level and could be entering a new growth cycle. While consolidation may continue in the short term, the long-term outlook points toward a more structured and sustainable uptrend. If institutional interest and global adoption continue to expand, long-term targets such as $1 million could return to the forefront of market discussions.
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