▲ Bitcoin (BTC)

Bitcoin (BTC) has fallen about 50% from its peak, but is solidifying $60,000 as a strong bottom and preparing for a new upward cycle.

According to cryptocurrency media outlet U.Today on March 13 (local time), Jurrien Timmer, Director of Global Macro at Fidelity, analyzed that Bitcoin is forming a firm support line around the $60,000 level. He described the current price movement not as a simple decline but as a healthy consolidation process necessary for a long-term bull market, adding that Bitcoin’s position as a store of value has become even more solid.

From a technical perspective, $60,000 represents the average price within this cycle and serves as an important psychological support level. Citing analytical models that reflect Bitcoin’s scarcity and network growth, Timmer argued that the current price remains within a fair value range after excess froth has been removed. Unlike the past, increased capital inflows from large institutional investors have created stronger buying pressure, providing more substantial defense against downward pressure than ever before.

The growing share of long-term holders and the resulting reduction in circulating supply are also key factors reinforcing price rigidity on the downside. Timmer noted that Bitcoin’s supply curve is unfolding as designed, while explosive demand growth is raising the asset’s price floor. Rather than reacting to short-term volatility, investors should focus on fundamental network growth indicators and changes in market adoption rates.

Fidelity defines Bitcoin as digital gold and recommends it as an essential asset in portfolio allocation strategies. Amid persistent macroeconomic uncertainty, Bitcoin demonstrates unique appeal as a hedge against inflation while lowering its correlation with traditional financial assets. Incoming capital serves as powerful energy that further strengthens the $60,000 support level.

As the digital asset market continues to mature, Bitcoin is expected to reduce volatility and maintain a stepwise upward trend. Market experts anticipate that once the current bottoming phase concludes, a new rally toward the next target of $100,000 will gain momentum. Having established a stable price foundation, Bitcoin now stands at a new starting line for long-term growth.

*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses resulting from it. The content should be interpreted for informational purposes only.*

​