Bitcoin Hits $82,000 and Fidelity Says It's Unsure If the Bear Market Is Over
Bitcoin (BTC) hit an intraday high of $82,108 before easing to trade near $81,050. That is up 4.5% over the past 24 hours, according to CoinGecko data.
The move extends an August rally. Fidelity Digital Assets says the jump alone does not confirm the bear market has ended.
Why Fidelity Is Still Cautious
Bitcoin logged its strongest monthly gain since November 2024 in August. Ether (ETH) and Solana (SOL) climbed even harder over the same stretch.
Fidelity's Chris Kuiper points to a pattern seen before past bull runs. Low volatility tends to precede a sharp upward move. That is roughly what played out from June into late August, he says.
Some traders are also watching bitcoin's four-year cycle theory. The idea holds that bear-market bottoms have historically landed about four years apart. That points to a possible bottom near November 2026, based on the November 2022 low.
Kuiper cautions the pattern has never repeated on a precise schedule and should not be used to time entries. This cycle's low may already have formed in July, he adds, or a fresh low could arrive later this year.
โฆ Continue reading the full article at the original source below.
