Has the bitcoin bubble burst?

Jurrien Timmer, director of global macro at Fidelity Investments, says the bitcoin correction has brought the cryptocurrency’s valuation down to more palatable levels. For investors, this could be another reason to buy more for the long term. Timmer bases his view on a bitcoin valuation model. Here’s what he has to say:
With the momentum trade in reverse, Bitcoin has corrected back to about $85k. Judging by open interest and ETP flows, this seems to be mostly caused by tourists who jumped on the momentum train last the price action gets noisy and volatile, it’s always good to… /Iz2T9H1Pvw— Jurrien Timmer (@TimmerFidelity) March 4, 2025
Will the upcoming federal election affect crypto in Canada?
It seems likely that Canada will hold a federal election in April 2025. We know that a new president has been a game changer for crypto in the U.S. Will the same be true for Canada?
As things stand, it seems like Canada’s next prime minister will be either Conservative leader Pierre Poilievre or Liberal leader (and current PM) Mark Carney. Based on previous comments each has publicly made, it would seem Poilievre is more explicitly crypto-friendly than Carney. However, I doubt this matters much, and here’s why: The Canadian crypto ecosystem won’t be any different under one or the other of these two PM hopefuls. Fundamentally, Canada has been a crypto-friendly country for a number of years, and it already has in place core regulatory frameworks that are central to the growth of the crypto ecosystem. Here are some examples.
The process to become a regulated crypto exchange in Canada is in place, and major exchanges are either already regulated or in the process of getting there.
The Canada Revenue Agency (CRA) has in place rules and guidance for various crypto transactions and how they are taxed. (Read about crypto and taxes.)
Canada was the first country to approve and launch a spot bitcoin ETF, over three years ago—long before the U.S.
Canada already boasts several publicly listed crypto companies, such as WonderFi Technologies Inc. (WNDR), Hive Blockchain Technologies Ltd. (HIVE) and Galaxy Digital Holdings Ltd. (GLXY).
There are no indications that either Carney or Poilievre would make core changes to the existing crypto-friendly ecosystem. And there aren’t any indications that either would be hostile to bitcoin or crypto. We won’t see anything like the landscape change that’s happened in the U.S. since Trump was re-elected.