The group's Dir. of Global Macro Jurien Timmer calls it an accumulation zone but notes the lack of a catalyst to bounce yet.
- Bitcoin is approaching the lower support line of a long-used power-law price model around $58,000, suggesting it is nearing a historical accumulation zone.
- Measures of how far bitcoin trades below its trendline and relative to gold have fallen to depths last seen at the 2018 and 2022 lows, but Fidelity’s Jurrien Timmer is not yet calling a bottom.
- Timmer expects bitcoin could drift sideways near support for months absent a liquidity catalyst, noting that speculative capital has rotated from bitcoin to gold and now into semiconductor stocks.
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Gate Leads Spot Market Share Gains as CEX Volumes Rise for First Time in Five Months
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
Why it matters :
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
For pension funds, tokenization’s real play is balance-sheet management, Fidelity’s Lai says
U.S. June CPI fell 0.4%, likely cooling move toward Fed rate hikes
Bitcoin’s great rotation: Long-term holders pass supply to a new generation of buyers
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