Bitcoin may be forming a base at $65,000 as 'paper hands' have been flushed out

Jurrien Timmer, director of global macro at Fidelity Investments, says strong earnings are helping markets absorb geopolitical shocks, despite ongoing risks. What to know : Oil backwardation, stable credit spreads, and modest equity drawdowns suggest investors expect tensions around Iran to resolve. Bitcoin, in particular looks technically interesting to Timmer, with the $65,000 level acting as solid support. Strong earnings and a mid-cycle expansion are preventing a deeper equity selloff, even amid geopolitical uncertainty, the strategist said.