Fidelity Investment Macroeconomic Director: "Bitcoin's Key Support Level is $70,000"

# Fidelity’s Jurrien Timmer Identifies $70K as Key Support Level for Bitcoin Fidelity Investments’ Global Macro Director, Jurrien Timmer, has highlighted $70,000 as a critical support level for Bitcoin, according to a report by U.Today on the 12th. Timmer remarked that the current market correction might be part of the setup for the next major rally, emphasizing that all eyes are now on the $70,000 support line. He noted that Bitcoin’s recent price decline has brought it back to a more “realistic” valuation level. Timmer’s valuation model is based on the internet’s S-curve and the power curve of wallet growth. As of now, Bitcoin is trading at $83,018, having increased by 0.3% over the past 24 hours. Meanwhile, Bloomberg’s Mike McGlone had previously suggested that the price of Bitcoin could potentially drop to the $70,000 level.