Bitcoin Price Stuck in Range as Regulatory Uncertainty Looms

Fidelity's recent research on digital assets indicates that Bitcoin's price jump in August should not be seen as a sign of a bull market returning after the bear market. Instead, it may be a temporary halt in the falling price action.

The report also notes that bear market factors could continue to be in effect despite big headline gains. According to Fidelity, investors will need clear signs other than temporary momentum to identify a trend change.

Bitcoin's price remains stuck within a relatively tight range below a significant resistance level. Low levels of realized volatility and compressed Bollinger Bands have historically signaled a period where markets would expand, according to Glassnode.