Bitcoin (BTC) Touches $82,000...Fidelity: "Low Point Could Rise Further"

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Although Bitcoin (BTC) surpassed $82,000 during intraday trading, Fidelity assessed that it is too early to conclude the bear market.

According to crypto-specialized media outlet BeInCrypto on September 4 (local time), Bitcoin rose to $82,108 during intraday trading before correcting to $81,050. The 24-hour increase rate was 4.5%. The monthly increase rate in August was the highest since November 2024. During the same period, Ethereum (ETH) and Solana (SOL) rose more significantly than Bitcoin.

Chris Kuiper, Vice President of Research at Fidelity Digital Assets, stated that it is not possible to conclude that the bear market has ended based solely on the recent rebound. Kuiper explained that in past bull markets, prices surged sharply after a period of low volatility. He analyzed that similar movements were observed from June to the end of August.

The market is also re-focusing on Bitcoin's 4-year cycle. Applying the hypothesis that past bear market lows have formed approximately every 4 years, a new low could emerge around November 2026, based on the November 2022 low. However, Kuiper emphasized that cycles have never repeated on an exact schedule and should not be used as a criterion for determining buying timing. He suggested that the low for this cycle might have already formed in July, or a new low could appear later this year.

Conversely, some analysts suggest that the bear market has already ended. Analyst Eric Crown argued in a recent analysis that the downturn concluded in August. Kuiper noted that despite recent negative news, prices did not fall further. He mentioned that selling pressure was limited even with the hardware wallet security incident, suggesting that sellers might be losing the power to drag the market down further. Kuiper said, “What is more important for investors is that digital asset adoption has progressed in waves, and this trend can sustain the cycle.”

The U.S. cryptocurrency market structure bill is pending in the Senate, and the likelihood of its swift passage has decreased. The U.S. Securities and Exchange Commission's (SEC) regulatory framework for early-stage crypto asset issuance is also undergoing a public comment period. Fidelity assessed that the network's fundamental strength was maintained despite price sluggishness, citing the growth of stablecoin and real-world asset markets. Recently, they analyzed that digital asset adoption and Bitcoin price movements have begun to move in the same direction again.

[Article Key Summary]

-Bitcoin rose to $82,108 during intraday trading, marking a 4.5% increase over 24 hours.

-Fidelity stated that the end of the bear market cannot be confirmed by the recent rebound alone and did not rule out the possibility of a new low later this year.

-The growth of stablecoins and real-world assets was cited as evidence that the fundamental strength of the cryptocurrency network was maintained despite price stagnation.

*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*