Fidelity’s Jurrien Timmer Says Bitcoin’s New 4-Year Bull Market May Be Underway as BTC Hits Highest Level Since January

Bitcoin pushed above $87,000 on Monday after Jurrien Timmer, Director of global macro at Fidelity Investments, noted that the cryptocurrency’s bull market may be underway.Is the Bear Market Over?In an X post on Saturday, Timmer stated Bitcoin broke out after holding $60,000 support for nearly a year.“That’s how long a typical Bitcoin winter lasts, so I’m sensing that a new 4-year cycle bull market is underway,” he added. Since the remark, BTC has spiked 5.70%.Timmer also posted Bitcoin’s Power law chart that maps the asset’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.After remaining negative for an extended period, the Z-score has turned positive, a signal that Timmer noted has historically marked market bottomsFinally, Bitcoin has been on the move after holding the $60k support zone for almost a year. That’s how long a typical Bitcoin winter lasts, so I’m sensing that a new 4-year cycle bull market is underway. Note that the Z-score of BTC/gold has turned positive after being -100%. In… Bitcoin Tops $87,000Bitcoin , its highest since late January, as the SEC’s push for cryptocurrency, including tokenized U.S. stocks, outweighed the CLARITY Act’s failure.The Crypto Fear & Greed Index is flashing "Extreme Greed," even as almost $400 million worth of Bitcoin positions, mostly shorts, were liquidated in the last 24 hours. Read Also: Will the Rally Sustain?Coinbase Global Inc. COIN) CEO Brian Armstrong said the world’s largest cryptocurrency could reach $300,000 to $400,000 by 2030.Bitcoin’s bullish commentary on social media also surged to its highest level since 2024, according to on-chain analytics firm Santiment. However, the firm warned that the cryptocurrency market typically moves against the crowd’s expectationsPrice Action: As of this writing, BTC is up 2.81% in the last 24 hours to $85,862.94, according to Benzinga Pro. Read Also: Anthony Pompiano Reiterates Bitcoin Has 'No Top' Because the Dollar Has 'No Bottom,' Bets BTC Will Go 'Way Higher' Photo courtesy: Shutterstock