Bitcoin Surges to $82,108 Amid Cautious Warnings from Fidelity

Bitcoin's price surged to an intraday high of $82,108 before easing back to trade near $81,050. This represents a 4.5% increase over the past 24 hours, according to CoinGecko data.

Fidelity Digital Assets' Vice President of Research, Chris Kuiper, notes that while this rally is significant, it doesn't necessarily confirm the end of the bear market. He points out that low volatility often precedes a sharp upward move, which is roughly what happened from June into late August.

Kuiper also mentions the four-year cycle theory, which suggests that bear-market bottoms have historically occurred about four years apart. This would point to a possible bottom near November 2026, based on the November 2022 low. However, he cautions that this pattern has never repeated on a precise schedule and should not be used to time entries.

Not everyone agrees with Kuiper's assessment. Eric Crown argues in a recent bear market call that the downturn already ended in August. He notes that adoption of digital assets has happened in waves, which can perpetuate cycles.