Fidelity Strategist Declares Bitcoin (BTC) Bull Market..."4-Year Rally Has Begun"

▲ Bitcoin (BTC), Dollar (USD), Wall Street / AI-generated image

Bitcoin (BTC) is experiencing a sharp upward rally, breaking past $87,000, its highest level since January. A key strategist at Fidelity Investments, a major global asset management firm, stimulated market buying by announcing that the approximately year-long bear market has ended and a new 4-year bull market cycle has begun.

According to Benzinga on September 22 (local time), Jurrien Timmer, Director of Global Macro at Fidelity Investments, stated on his X (formerly Twitter) that Bitcoin successfully held the $60,000 support level for about a year before initiating an upward breakout. Timmer diagnosed, "Bitcoin has completed its typical 'winter' (bear market) duration," adding, "It appears that a new 4-year bull market cycle is now fully underway."

Technical indicators also clearly confirmed a bottoming-out signal. Timmer shared a Power Law chart, which shows long-term value trends, and highlighted the 52-week Z-score of Bitcoin's price ratio against gold. This indicator has recently moved out of a long-term slump at the -100% level and returned to positive territory. In past cycles, a positive turn in this indicator has served as a key signal confirming a historical market bottom.

Expectations for an improved regulatory environment also supported the price surge. Despite the failure of the CLARITY Act (U.S. cryptocurrency market structure bill) to pass, the Securities and Exchange Commission (SEC) is accelerating the development of a virtual asset regulatory framework, including tokenized U.S. stocks, thereby offsetting policy uncertainty. Bitcoin surged to $87,363 intraday, marking its highest price since late January.

In the derivatives market, a short squeeze occurred, amplifying the price increase. Over the past 24 hours, futures positions worth $400 million were forcibly liquidated in the Bitcoin market alone, with most losses concentrated in short positions that had bet on a price decline. The market's Fear & Greed Index soared to "Extreme Greed," and optimism is spreading, including Coinbase Global Inc. (COIN) CEO Brian Armstrong reaffirming his prediction that Bitcoin could reach $300,000-$400,000 by 2030.

[Article Summary]

-Jurrien Timmer of Fidelity Investments diagnosed that a new 4-year bull market cycle has begun, based on Bitcoin's support at $60,000.

-The 52-week Z-score of Bitcoin (BTC) against gold turned positive, confirming a historical bottom.

-Driven by $400 million in short position liquidations and expectations for a regulatory framework, Bitcoin broke past $87,363 intraday.

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