Bitcoin Approaches $58K Power Law Support Level, Key Milestone Since 2015 Cycle Bottoms

BTC-0.30%
According to ChainCatcher, Bitcoin is currently approaching a $58,000 support level derived from the long-term power law price model, placing it near historical accumulation zones. BTC's valuation relative to trend lines and against gold has declined to levels not seen since the 2018 and 2022 cycle bottoms, according to Fidelity's Jurrien Timmer.
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