Fidelity strategist: Bitcoin is experiencing a liquidity crisis, but strong fundamentals remain intact

Fidelity strategists are revising their 2022 outlook for bitcoin after it fell below a key $40,000 level.

Jurrien Timmer, a macro strategist at Fidelity, said on social media on the 26th locally that he was surprised that bitcoin fell from $69,000 last November but failed to hold the $40,000 key level.

"Based on demand models and on-chain dynamics indicators, I think the bottom for bitcoin is $40,000, but the current price is $35,000."

He believes that trend-wise, bitcoin has the potential to buck the trend.