Jurrien Timmer, Fidelity Investments' director of global macro, has identified a critical silver lining in Bitcoin's recent price action.
A technical pattern shows that the worst of the sell-off may be over as the cryptocurrency remains below the make-it-or-break-it $70,000 level.
Bitcoin's stunning underperformance
Timmer’s latest analysis offers a sobering look at how Bitcoin stacks up against traditional assets using the Sharpe Ratio, which is a metric that is used for evaluating risk-adjusted returns.
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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.
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"Gold continues to exhibit very resilient behavior, recovering quickly from corrections," Timmer noted. "This is what super-bull markets are made of."
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.
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.
"That’s a hopeful sign, especially after reaching the $65k support zone," Timmer explained.
Bitcoin is currently changing hands at around $67,778, up 1.0% over the last 24 hours.
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.
As reported by U.Today, Timmer predicted that Bitcoin's plunge to $60,000 could be the bottom of the correction.
"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.
The Fidelity director views the current market as a necessary period of "backing and filling."
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