Bitcoin Bear Market May Not Be Over, Fidelity Warns

Bitcoin's recent price surge has led some to believe that the bear market is over. However, according to Fidelity Digital Assets' Vice President of Research Chris Kuiper, this may not be the case.

Kuiper pointed out in a report that while Bitcoin's price has risen by nearly 30% over the past 30 days to reach $81,639, it could still hit a bottom in November. This is based on historical patterns, where Bitcoin cycles have not been precisely four years long and are therefore unreliable for timing the market.

In July, Bitcoin's volatility was particularly muted, with the coin trading below $65,000. However, after the U.S. Treasury Department announced that it would more than double its government debt repurchases in mid-August, Bitcoin began to rally. This has brought the so-called debasement trade back into focus.

Kuiper advises investors to pay attention to what happens with the crypto Clarity Act, which aims to provide greater regulatory certainty and support continued innovation in the U.S. digital asset ecosystem. Lawmakers will vote on the bill this month, following President Donald Trump's urging for lawmakers to pass it.