- Fidelity’s Jurrien Timmer says Bitcoin is approaching a long-term accumulation zone near its Power Law support level around $60,000.
- According to Fidelity’s historical model, previous bear markets bottomed near the same valuation corridor before major recoveries emerged.
- Bitcoin’s valuation against gold also signals market exhaustion, reinforcing the firm’s view that downside may be increasingly limited.
Fidelity Investments’ Director of Global Macro, Jurrien Timmer, says Bitcoin is approaching an accumulation zone as the cryptocurrency trades near its long-term Power Law support. According to Timmer, the current price structure resembles conditions that marked previous market cycle bottoms.
Timmer shared his assessment on X, stating that Bitcoin is getting increasingly closer to its Power Law support line near the $60,000 level. He described the area as a potential accumulation zone, suggesting long-term investors could be approaching a historically significant valuation range.
His comments arrive as Bitcoin attempts to stabilize following months of market weakness. Although prices remain well below previous highs, Fidelity’s long-term model indicates the asset is nearing levels that have repeatedly attracted buyers during earlier bear markets.
The firm’s analysis also follows its latest Periodic Table of Investment Returns, which ranked Bitcoin among the weakest-performing asset classes in 2026. Meanwhile, emerging markets, Japanese equities, and small-cap stocks occupied the top positions, highlighting a sharp shift in investor performance across global markets.
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Historical model points to familiar market bottom signals
According to Fidelity’s research, Bitcoin has historically moved between accumulation and distribution zones based on its Power Law model. During major bull markets, prices climbed significantly above the model’s upper boundary before entering prolonged corrections. For example, Bitcoin reached distribution zones near its previous cycle peaks around $1,137, $19,042, and $64,337. Each rally pushed well above the long-term trendline before momentum eventually reversed.
Conversely, previous bear markets reached their lows close to the model’s lower boundary. Bitcoin bottomed near $230 during the 2014 and 2015 downturn while the support line projected roughly $252. Similarly, the 2018 decline reached approximately $3,204 compared with a projected support level near $2,521.
The same pattern appeared during the 2022 crypto market downturn. Bitcoin established its cycle low around $16,366 while Fidelity’s Power Law support tracked near $15,006, reinforcing the model’s long-term reliability. Besides the Power Law analysis, Fidelity also measures Bitcoin’s valuation against gold through a 52-week Z-score indicator. According to the firm’s research, readings between negative 100% and negative 120% have historically coincided with periods when Bitcoin became deeply undervalued relative to gold.
Current data places Bitcoin near $62,685 while the long-term Power Law support stands around $56,488. At the same time, the model shows a negative 56% deviation alongside a negative 100% Z-score reading. Fidelity says this combination reflects a mature valuation reset that has previously appeared near important market lows. Bitcoin later traded around $63,957, posting a modest recovery while remaining within the valuation range highlighted by Timmer.
Conclusion
Fidelity’s latest analysis suggests Bitcoin is approaching a price region that has historically aligned with accumulation phases. According to Timmer, the combination of Power Law support and valuation indicators places the cryptocurrency near a level that previously marked the foundation of new market cycles.
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