Jurrien Timmer, Global Macro Director at Fidelity, wrote on the X platform that Bitcoin's current price movement is closer to the S-curve of the internet than a power-law curve. If Bitcoin enters a consolidation phase within the next year, the power-law trend line may be closer to $65,000, potentially becoming a critical level for Bitcoin. However, this may or may not happen in the future (or even within the next year). Many Bitcoin supporters claim the four-year cycle has ended and a new structural upward wave is imminent; this is met with skepticism, not because the halving cycle's influence is waning, but because it questions the notion that a bear market is over. Currently, Bitcoin's floor is $65,000 (its previous high), while the power-law trend line indicates a floor of $45,000.