Fidelity Expert Hints at New Bitcoin Bull Market Cycle

Jurrien Timmer, Director of Global Macro at Fidelity Investments, has sparked excitement among Bitcoin enthusiasts with his claim that the cryptocurrency's new bull market may be underway. In a recent post on X, Timmer noted that Bitcoin broke above $60,000 support after holding it for nearly a year, which he believes is a typical duration for a 'Bitcoin winter'. This would mark the start of a new 4-year cycle bull market.

Timmer also shared a Power law chart mapping BTC's long-term value over time. The pink bars on the chart show the 52-week Z-score of the BTC/gold price ratio, which measures how many standard deviations the current ratio deviates from its historical mean. Historically, a positive Z-score has signaled market bottoms.

Since Timmer's remark, Bitcoin (BTC) has surged 5.70% to reach an intraday high of $87,363 on Monday, its highest level since late January. The SEC's push to build a regulatory framework for cryptocurrency and tokenized U.S. stocks is seen as a key driver behind the rally.