Fidelity's Timmer Flags $60,000 as a Key Bitcoin Support Level

CoinDesk reported that Jurrien Timmer, Global Macro Director at Fidelity Investments, said Bitcoin is nearing an important support area in his long-term framework, while the macro backdrop still lacks the conditions for a decisive turn higher. In his view, fresh upside momentum is limited, making a near-term test of support more likely. Around $60,000 is the level he is watching. Timmer's reference is Bitcoin's "power law" price model, which uses long-term logarithmic curves across historical cycles to map an upper resistance band, a median trendline and a lower support line. Based on the model, the current long-term support line sits near $58,237, putting $60,000 in focus as both a psychological threshold and a key pivot in the broader price structure. The report noted that major cycle troughs have repeatedly come close to the model's support zone during deep drawdowns: the 2015 low near $230 versus a model support level around $252; the 2018 low near $3,204 versus about $2,521; and the 2022 low near $16,366 versus about $15,006. It also pointed to a premium indicator beneath the model that tracks how far Bitcoin trades above its structural floor. That premium typically widens during bull markets, but much of it has since been worked off. Timmer said a sustained rebound above support would require an improvement in global liquidity. With global money supply growth slowing and the speculative premium that once helped lift projections above $120,000 receding, he stopped short of calling a definitive bottom. Even if the long-term support framework remains intact, the article suggested Bitcoin may spend time in a sideways consolidation range before a clearer reversal takes shape.