Bitcoin (BTC) Price: Fidelity Predicts Next Major Wave

Fidelity’s Director of Global Macro Jurrien Timmer sees Bitcoin as forming a broad base and positioning for a “next major up wave,” dismissing a bearish continuation despite acknowledging a possible bear-flag technical appearance. Bitcoin recently rebounded from a local low of $60,033 to a recovery high of $78,344. Timmer notes a rotation of capital between Bitcoin and gold — with flows that shifted into gold at last October’s crypto peak now reversing back toward digital assets — and highlights Bitcoin’s resilience versus other asset classes after a sharp drawdown from $126,000. The view implies that stabilized support and returning ETP inflows could fuel further upside for BTC, while broader market weakness (S&P 500 down 4.3% YTD as of March 31) contextualizes investor allocation moves.