Fidelity believes Bitcoin winter is over after a year, as the cryptocurrency bounced 6% on Friday to reclaim $80K. Fidelity’s Head of Global Macro Jurrien Timmer identified two signals confirming a durable bottom and the start of the next bull cycle: the end of Bitcoin’s one-year winter and BTC/gold correlation turning positive. Bitcoin has held above $60K for about a year, and institutional traders are betting on a 35% chance it will reclaim $90K by December. Technical analysts are watching the May high of $82K, whose clearance could push BTC above $90K, with support expected around $71K in a downside scenario.
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