Jurrien Timmer, Director of Global Macro at Fidelity, pointed out that the persistent weakness of the US dollar represents a decisive tailwind for Bitcoin. The strategist added that recent US Treasury interventions to buy back long-term debt and issue more bills put downward pressure on the American currency, simultaneously driving up prices for both gold and the market’s leading cryptocurrency.
It’s telling that the Treasury’s actions last week to buy back more long-dated paper and issue more Bills took down the dollar and caused both gold and Bitcoin to soar. The market senses a slippery slope towards fiscal dominance and a possible loss in Fed independence. The… pic.twitter.com/QQhH3TG7lH
— Jurrien Timmer (@TimmerFidelity) August 27, 2026
Timmer described an outlook reflecting growing fears of a fiscal dominance regime, where state financing needs end up dictating the Federal Reserve’s monetary policy. With Bitcoin regaining ground above $80,000 and supported by a revival in institutional inflows into spot ETFs, the digital asset consolidates its role within hedging strategies against monetary debasement.
The pioneer cryptocurrency remains in a technical accumulation phase aligned with its long-term support bands. The next step for investors will be monitoring Bitcoin’s correlation with precious metals and upcoming fiscal liquidity shifts, which are key to validating the continuation of this bullish trend.
Source: https://x.com/TimmerFidelity/status/2092991527127789913
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