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

Bitcoin (CRYPTO: BTC) 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 bottoms

Bitcoin Tops $87,000

Bitcoin reached an intraday high of $87,363 on Monday, its highest since late January, as the SEC’s push to build a regulatory framework 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.