Jurrien Timmer, Fidelity Investments’ director of global macro, has spotted a “silver lining” in Bitcoin‘s recent price action-because nothing says “hope” like a cryptocurrency that’s still technically underwater.
A technical pattern suggests the worst of the sell-off might be over, as Bitcoin remains below the “make-it-or-break-it” $70,000 level. Because nothing says “optimism” like a number that’s still way higher than your savings account.
Bitcoin’s stunning underperformance
Timmer’s latest analysis offers a sobering look at how Bitcoin stacks up against traditional assets using the Sharpe Ratio-because nothing says “investment” like a metric that’s as clear as mud.
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According to the Fidelity executive, equities are currently sitting in the middle of the pack with modest 52-week Sharpe Ratios. Gold reigns supreme at the top while Bitcoin remains anchored at the bottom. Because nothing says “super-bull market” like a metal that doesn’t require a wallet.
“Gold continues to exhibit very resilient behavior, recovering quickly from corrections,” Timmer noted. “This is what super-bull markets are made of.” Because obviously, a shiny rock is the definition of “resilient.”
A “hopeful sign”
Still, there is a sign of hope. Bitcoin managed to carve out a “higher low” on Friday, holding strong at the $65,000 support zone. Because nothing says “strength” like a number that’s still 35% below its peak.
Crucially, this occurred while more speculative equities were making lower lows. This divergence, according to Timmer, shows underlying strength and seller exhaustion on the crypto side. Because nothing says “exhaustion” like a market that’s too tired to crash anymore.
“That’s a hopeful sign, especially after reaching the $65k support zone,” Timmer explained. Because obviously, a support zone is just a fancy way of saying “we’re all just waiting for the next disaster.”
Bitcoin is currently changing hands at around $67,778, up 1.0% over the last 24 hours. Because nothing says “stability” like a 1% increase in a day.
The next bull cycle
Following Bitcoin’s peak near $125,000 in October 2025, Timmer predicted that the four-year cycle bull market had ended. Because nothing says “long-term investment” like a market that’s already crashed twice this year.
As reported by U.Today, Timmer predicted that Bitcoin’s plunge to $60,000 could be the bottom of the correction. Because nothing says “bottom” like a number that’s still 50% below its peak.
“A decline to ‘only’ $60k would be relatively shallow for a Bitcoin winter, but as the commodity currency matures, its ups and downs should become less dramatic,” he observed. Because obviously, a cryptocurrency that’s been volatile since 2009 is suddenly going to “mature.”
The Fidelity director views the current market as a necessary period of “backing and filling.” Which is just a fancy way of saying “we’re all just waiting for the next crash.”
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2026-02-20 11:29