Fidelity Macro Strategist Sees $60,000 as Bitcoin Support and Potential Bear Market Low

Fidelity Global Macro Director Jurrien Timmer said on X that Bitcoin's recent pullback to $60,000 has reached a support area he identified months earlier, suggesting a bear market bottom may be in place with a new expansion phase ahead, ChainCatcher reports. Timmer described the retreat to $60,000 as relatively shallow and argued that Bitcoin's volatility should gradually ease as it matures, with a new bull cycle potentially emerging after several months of consolidation and eventually driving prices to fresh all-time highs. He shared charts linking Bitcoin's price to global money supply that mark $60,000 as key technical support, alongside a chart titled "The Path to Bitcoin's Maturity" tracing historical waves from early prices of $2 and $24 through the breakout above $64,000 and pointing to a projected sixth-wave target of $290,425 within a framework that could extend toward $1 million.