Crypto
Bitcoin nears $58,237 long-term support but bottom hard to call
Bitcoin is nearing a key long-term support level under a long-term price model, but it is too early to call a bottom, an assessment said. Fidelity Investments global macro director of asset allocation Julian Timmer said bitcoin is approaching its long-term “Power Law” support line, set at $58,237 on his chart. Fidelity sees little catalyst for a reversal, citing shifting speculative flows and a subdued macro backdrop.
