Jurien Timmer, director of global macro at Fidelity Investments, shared his view that Bitcoin could reach a new milestone if it manages to decouple from the stock market.
In a post on X(Twitter), he pointed out that both gold and Bitcoin are reacting to the growing global money supply. He noted that gold has already recovered from a recent dip as global M2 money supply reached $111.9 trillion.
Bitcoin, which had lagged behind gold while following equity prices lower, is now making fresh highs. Timmer added that the Sharpe ratios of gold and Bitcoin are converging, indicating that both assets are vying for the role of a store of value.
What Decoupling from Equities Means?
Decoupling from equities means Bitcoin would stop moving in tandem with the stock market’s ups and downs. In recent months, Bitcoin’s price has often mirrored the performance of major stock indexes.
If it breaks this link, Bitcoin might act more like gold, offering a haven when stocks fall. For investors, this shift would suggest that Bitcoin is seen independently as a safe asset rather than just a speculative instrument tied to broader market trends. Such a move could strengthen confidence in Bitcoin’s long-term role in diversified portfolios.
Bitcoin’s Price Actions
At the time of Timmer’s post, Bitcoin was trading at $103,455.73, down 2% over the previous 24 hours. The global cryptocurrency market cap stood at $2.05 trillion, while 24-hour trading volume had dropped by 17.38%.
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These figures reflect normal market fluctuations, but they also hint at the cautious mood among traders as they watch both crypto and traditional markets. The comparison to gold underscores Bitcoin’s growing appeal as a potential hedge against inflation and money printing.
Fidelity’s Report on Bitcoin’s Market Cycle
A recent report from Fidelity Digital Assets examined how the current Bitcoin cycle shows signs of a maturing market. The study noted that at block height 892,500, marking 25% progress into the 2024–2028 halving period, Bitcoin traded between $82,500 and $85,000.
This range represents a 31% gain since April 19, 2024, when the fourth halving reduced block rewards to 3.125 BTC. Fidelity’s senior research analyst Daniel Gray highlighted that Bitcoin’s network has seen a 50% jump in hashrate since that halving, reflecting strong miner commitment despite lower rewards.
As Bitcoin continues its climb alongside gold, investors will watch closely to see if the cryptocurrency can truly break free from stock market trends. A successful decoupling could signal Bitcoin’s arrival as a standalone store of value.
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