Key Takeaways
According to Bitcoin Magazine, Fidelity reported that bitcoin's bear market may persist despite a recent rally, with a potential new low possible later this year.
According to Bitcoin Magazine, asset manager Fidelity reported that bitcoin's bear market may not yet be over, despite a recent price rally. While bitcoin may have hit its bottom in July, Chris Kuiper, Vice President of Research at Fidelity Digital Assets, stated that it could still drop to a new low in November or later. Kuiper noted that historical four-year cycles are not reliable for timing the market.
Bitcoin began rallying in mid-August following an announcement by the U.S. Treasury Department to more than double government debt repurchases, bringing the debasement trade back into focus. The price recently stood near $81,639, up nearly 30% over 30 days, following a record high of $126,080 in October last year.
To gauge future movements, Kuiper suggested watching the crypto Clarity Act. President Donald Trump urged lawmakers in August to pass the bill, and a vote is scheduled for this month. Proponents argue the legislation could provide greater regulatory certainty and support digital asset innovation in the U.S.
Source & Fact-Check Note
This report is synthesized from coverage by Bitcoin Magazine. Information has been fact-checked and structured for market clarity by CoinQuickly’s research desk.
Read original article at Bitcoin Magazine ↗
