Bitcoin Surges Past $80K, but Fidelity Sees Bear Market Remorse Ahead

Bitcoin's price surged past $80,000 on Friday after a 4.3% gain, extending its late-August recovery.

The rebound followed a difficult third quarter for crypto assets, which faced selling pressure.

Fidelity remains cautious, saying the current recovery does not confirm that the bear market has ended.

The firm points to Bitcoin's four-year cycle as one possible guide. Major market tops and bottoms have often appeared about four years apart, with the last bear-market low in November 2022 potentially leading to another possible low around November 2026.