Bitcoin nears Fidelity power law support line

Bitcoin is approaching the lower support line of Fidelity's power-law price model around $58,000, a historical accumulation zone. The gap below the trendline has reached negative 56%, matching depths from the 2018 and 2022 lows. Fidelity's Jurrien Timmer is not calling a bottom, expecting sideways drift until a liquidity catalyst emerges.