Bitcoin's sharp drop to $60K may signal a new bull run ahead
Bitcoin's btc price has stabilised after a sharp decline, according to Jurrien Timmer, director of global macro at Fidelity Investments. The cryptocurrency dropped to around $60,000 earlier this month before recovering to $68,900 by February 13, 2026. Timmer suggests this level could mark the end of the current downturn, signalling a shift toward a new growth phase.
Timmer had previously highlighted $60,000 as a critical support zone for Bitcoin. When the bitcoin price hit that mark on February 6, 2026, it aligned with his earlier predictions. He now believes the worst of the selling pressure is behind us, paving the way for a fresh accumulation period.
The recent volatility also underscored a key difference between Bitcoin and traditional safe-haven assets. While gold held steady during market turbulence, Bitcoin—often called 'digital gold'—experienced sharper swings. Timmer noted this divergence reflects Bitcoin's evolving role as a more mature but still volatile asset.
Despite the downturn, Timmer remains optimistic about future gains. He points to technical models supporting his view that institutional adoption is smoothing out extreme bitcoin price swings. If his analysis holds, the stage may be set for Bitcoin's next bull run.
Bitcoin's drop to $60,000 appears to confirm Timmer's forecast of a market bottom. With the btc price now recovering, attention turns to whether a new accumulation phase will take hold. The coming months may reveal whether institutional demand can drive the next upward cycle.
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