Fidelity: August Rally Does Not Confirm End of Bear Market

Bitcoin's recent monthly gain is not enough to confirm that the current bear market has ended, according to Fidelity's fourth-quarter outlook report. The cryptocurrency posted its strongest monthly gain since November 2024 in August, with a price increase of over 25% during the third week alone.

Ethereum and several altcoins also recorded their strongest positive months since late 2025, with Ethereum rising 34.1% and Solana advancing 28%, according to Fidelity. However, the firm warned that this rally could represent either a sustained recovery or a temporary move within a continuing bear market.

Fidelity noted that historical cycles have never followed precise four-year schedules, making it difficult to predict market turning points. Chris Kuiper, vice president of research at Fidelity Digital Assets, stated that adoption has historically occurred in waves that can help sustain market cycles, but this view is based on past performance and does not guarantee future results.