The bitcoin market is shaping up to be at a turning point. According to the Power Law model, which I regularly analyze and which has been tracked since 2015, the first cryptocurrency has come very close to the lower line of long-term support. Currently, this boundary is near the $58,000 mark, while the upper limit of the model is estimated at around $120,000.
This is not just a technical level — it is a zone where significant entry points for institutional and retail investors have historically formed. Director of Global Macroeconomics Jurrien Timmer calls this range an accumulation area. However, it is important to understand the nuance: he does not confirm that the market bottom has already been reached.
Without an external catalyst, primarily the return of liquidity to global markets, bitcoin could remain stuck in a sideways movement near this support line for several months. This is a classic scenario of "wearing out" weak hands, where the price fluctuates in a narrow range without giving a clear directional signal. From my perspective, it is now critically important to monitor macroeconomic indicators, especially the actions of the Federal Reserve and the dynamics of the dollar. If liquidity begins to return, we will see a sharp rebound from this zone. If not, consolidation may drag on, but fundamentally, the Power Law model remains one of the most reliable indicators of a long-term bullish trend.