Fidelity's Head of Global Macro Predicts Bitcoin Could Bottom at $60,000 and Rise to New Heights

Fidelity’s Global Macro Director, Jurrien Timmer, stated on X that Bitcoin’s recent drop to $60,000 has reached a support zone anticipated months ago, suggesting the bear market bottom may have formed and a new expansion phase could be imminent. He noted that as Bitcoin matures, volatility is expected to gradually decline, with a new bull cycle likely to begin after several months of consolidation, potentially reaching new all-time highs. Timmer included chart analysis showing a correlation between Bitcoin’s price and global money supply, identifying $60,000 as a key technical support level. Another chart, titled “The Path to Bitcoin’s Maturity,” illustrates its historical waves—from early levels of $2 and $24, through the breakout above $64,000, to a projected sixth wave target of $290,425. This model integrates curve analysis with macroeconomic variables to outline a long-term framework pointing toward $1 million. He emphasized that if cyclical patterns and adoption trends continue, Bitcoin is poised to follow a structured path toward maturity after consolidating at $60,000.