Fidelity analysts: The bottom of the crypto bear market may have been formed, and a new round of expansion is expected.

PANews reported on February 15th, citing Bitcoin.com, that Jurrien Timmer, Global Macro Director at Fidelity, stated on the X platform that Bitcoin's recent drop to $60,000, touching a support zone predicted months ago, suggests a potential bottom for the bear market and the start of a new expansion. He pointed out that the drop to $60,000 is relatively shallow, and as Bitcoin matures, volatility will gradually decrease. He anticipates a new bull market cycle after several months of consolidation, potentially reaching 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 breakout 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 emphasizes that if cyclical patterns and adoption trends continue, Bitcoin is expected to follow a structured maturation path after consolidating around $60,000.