Fidelity exec: Clear BTC trend reversal difficult without new liquidity

Jurrien Timmer, Director of Global Macro at Fidelity Investments, has analyzed that Bitcoin's long-term support level around $60,000 is being tested and a clear trend reversal is unlikely without an influx of global liquidity. U.Today reported on Timmer's analysis, noting that while BTC is approaching its historical trendline, it lacks bullish catalysts in the current macroeconomic environment. According to Timmer, the Power Law model identifies $60,000 as a key psychological and technical juncture, with a support line at $58,237. He pointed out that market bottoms in 2015, 2018, and 2022 formed near this level. However, Timmer cautioned that the premium from past bull markets has been exhausted, and a new wave of global liquidity is needed for BTC to break above its trendline. With slowing global money supply growth and the disappearance of the speculative premium that once drove prices toward $120,000, he believes it is difficult to call an immediate bottom, suggesting a prolonged period of sideways movement could precede any actual reversal.