Fidelity Macro Director Warns Bitcoin Faces Crucial $60,000 Test
Share:
Bitcoin is trading around $61,600 and is approaching a critical $58,000- $60,000 support zone after Fidelity's macro director flagged a power-law floor at $58,237 in a July 2 update, signaling weakening momentum and a market test for crypto prices. ETF flows were volatile with $296 million exiting before $223.5 million returned, and Citi cut its 12-month Bitcoin target to $82,000 citing weakening institutional demand, underscoring downside risk to adoption and price.
Predictions Markets
See what traders are focused on
- Bitcoin now nears $60,000 as Fidelity tracks power-law support around $58,237.
- ETF flows remain volatile after $296 million exited before $223.5 million returned.
- Citi cuts its 12-month Bitcoin target to $82,000 as institutional demand weakens.
Bitcoin is nearing a threshold around $60,000 as Fidelity macro director Jurrien Timmer tracks weakening momentum and fading speculative demand. In a July 2 update, Timmer placed power-law support near $58,237, turning the $58,000 to $60,000 zone into a market test.
At press time, Bitcoin traded near $61,600 after reaching its lowest level since September 2024 that week. Moreover, the asset remained more than 51% below its October 2025 record of about $126,198.
Bitcoin’s $58,237 Power-Law Floor Comes Into Focus
Basically, the power-law model maps BTC price history across logarithmic upper, median, and lower trend lin…
Read The Full Article Fidelity Macro Director Warns Bitcoin Faces Crucial $60,000 Test On Coin Edition.
Read More
Bitcoin treasury company Empery Digital sold about half of BTC stack
