Fidelity: Bitcoin Winter may Last a Year, Support Level between $65,000 and $75,000

December 19 Jurien Timmer, Global Macro Director at Fidelity, said in a post on X that while he remains bullish on Bitcoin over the long term, the cryptocurrency may have completed its latest four-year halving cycle—both in terms of price and timing. Following 145 months of upward momentum, the $125,000 peak hit in October this year aligns largely with projections. Bitcoin typically sees a roughly one-year bear market, so 2026 could be a year of consolidation for the token, with support levels in the $65,000–$75,000 range. Timmer also highlighted gold’s robust performance in 2025, contrasting it with Bitcoin’s negative returns, and projected neither asset will experience mean reversion in the near term. Gold is currently in a strong bull market, up roughly 65% year-to-date and outpacing growth in the global money supply. During a recent pullback, gold retained most of its gains—a classic hallmark of a bull market.