Bitcoin Spikes Above $80k Amid Fidelity Cautions on Bear Market
Bitcoin reached an intraday high of $82,108 before settling near $81,050. This marks a 4.5% increase over the past 24 hours.
The recent surge is part of an August rally that has seen Bitcoin log its strongest monthly gain since November 2024. Ether and Solana also saw significant gains during this period.
Fidelity Digital Assets' Chris Kuiper suggests that low volatility often precedes a sharp upward move, which is roughly what occurred from June to late August.
Some traders are watching the four-year cycle theory, which holds that bear-market bottoms have historically landed about four years apart. This would point to a possible bottom near November 2026, based on the November 2022 low.
Kuiper cautions that this pattern has never repeated precisely and should not be used to time investments.