Fidelity Global Macro Director Jurrien Timmer wrote on X that the Z-score for Bitcoin relative to gold has already turned positive after falling to negative 100%. He said that in the past, signals like this have generally been able to confirm a bottom, and that he feels a new four-year cycle bull market is under way.
This stance resonates with recent developments in which Bitcoin broke above the 50-week moving average and has returned to above $80,000. Timmer usually speaks cautiously, and this shift in tone has been taken by many market observers as a sign of an emotional turning point.
As of now, Bitcoin is hovering around $86,000, and discussions about a bull market restart have clearly intensified.
This stance resonates with recent developments in which Bitcoin broke above the 50-week moving average and has returned to above $80,000. Timmer usually speaks cautiously, and this shift in tone has been taken by many market observers as a sign of an emotional turning point.
As of now, Bitcoin is hovering around $86,000, and discussions about a bull market restart have clearly intensified.