According to ChainCatcher, citing Bitcoin.com, Jurrien Timmer, Global Macro Director at Fidelity, stated on the X platform that Bitcoin's recent drop to $60,000, touching the support zone predicted months ago, suggests that the bear market bottom may have formed and a new round of expansion is expected.
He pointed out that the drop to $60,000 is relatively shallow, and as Bitcoin matures, volatility will gradually decrease. He expects a new bull market to begin after several months of consolidation, and it may reach new highs.
Timmer's chart analysis suggests a correlation between Bitcoin's price and global money supply, with $60,000 acting as a technical support level. Another chart, "Bitcoin's Maturation Path," depicts its historical waves: from early highs of $2 and $24, to a break above $64,000, pointing towards the predicted sixth wave area of $290,425. This model integrates curves and macroeconomic variables to outline a long-term framework towards $1 million.
He emphasized that if the cyclical patterns and adoption trends continue, Bitcoin is expected to move along a structured maturation path after consolidating at $60,000.
