Bitcoin may be forming a base at $65,000 as 'paper hands' have been flushed out
CoinDesk·2h ago·Positivity
What Happened
Fidelity's Jurrien Timmer says bitcoin may be establishing support at $65,000 after weak investors sold out. Markets are pricing in near-term resolution to Iran tensions. Oil futures show backwardation, indicating temporary disruption. S&P 500 recovered from 9% decline to 1% drawdown. Bitcoin, down 50-60% from October peak, needs a catalyst for next rally. Timmer remains bullish on crypto and equities despite Middle East uncertainty.
Key Entities
Jurrien TimmerFidelity InvestmentsBitcoinIran ceasefireS&P 500WTI crude oilDonald Trump$65,000 support level