"Bitcoin's Consolidation and Ether's Outperformance: A Bearish Lull in Crypto?"
Fidelity's Jurrien Timmer believes that Bitcoin's recent price drop is a short-term adjustment following the approval of a BTC ETF, expecting consolidation of recent gains rather than a long-term reversal. He sees the current price as reasonable, influenced by network growth and interest rates, and anticipates a potential shift towards widespread adoption as a commodity-currency. Despite the stall in the rally, many asset managers maintain a significant net long position in the bitcoin futures market, while Bitcoin's "golden cross" – its 50-week moving average crossing above the 200-week average – suggests a long-term bullish market.