Bitcoin Soars Past $80,000 as Analysts Debate Bear Market End

Bitcoin (BTC) has surged past $80,000 after reaching an intraday high of $82,108. The price increase comes as Fidelity Digital Assets cautions that the bear market is not over yet.

The recent rally extends an August surge, where Bitcoin logged its strongest monthly gain since November 2024. Ether (ETH) and Solana (SOL) saw even more significant gains over the same period.

Fidelity's Chris Kuiper points out that low volatility often precedes a sharp upward move in the market. He notes that this pattern played out from June to late August, which some consider a sign of a potential bull run.

However, not all analysts agree with Fidelity's assessment. Eric Crown argues that the downturn already ended in August and that adoption of digital assets has led to cycles of growth.