Bitcoin Bear Market May Not Be Over Despite August Rally, Fidelity Warns

Bitcoin’s rally in August has revived optimism for the crypto sector, but Fidelity Digital Assets stated that the rebound from June to mid-August was weak.

August’s rally was the strongest monthly performance since November 2024, with Bitcoin rising by over 25% during the third week, yet not enough to signify a bottom in the market.

The rally was broad across digital assets, according to Fidelity, with Ethereum up 34.1% and Solana increasing 28%. The firm noted it is still unknown whether this signals the start of a new recovery or a temporary rebound in a continuing bear market.

The watched reference point is November 2026. November 2022 was the previous bear-market low, and some speculators have focused on four-year cycles. Fidelity added that Bitcoin has never had a set schedule for its cycles.