Fidelity: Bitcoin bear market may not be over, could retest new lows in November

PANews reported on September 4 that Fidelity Digital Assets released its Q4 crypto market outlook, noting that Bitcoin and the crypto market surged in late August, with BTC, ETH, and other major tokens recording their largest monthly gains since the end of 2025. Some investors are watching whether November will form a bear market bottom based on the 4-year cycle theory, but Fidelity cautioned that this pattern may not necessarily repeat, as the bottom may have already appeared in July, or it could make a new low in November or later.

Fidelity pointed out that historically, the end of a bear market is usually accompanied by upward price expansion after a period of low volatility. At the end of August, BTC rose more than 25% in a single week, while ETH and SOL rose 34.1% and 28%, respectively. Recent potential negatives such as hardware wallet security incidents and the stalling of the CLARITY Act have not pushed prices lower, which may further reinforce the judgment that crypto assets are near a bottom. Stablecoin transaction volume has reached 2.3 times that of Visa, the RWA market is growing faster in 2026 than in previous years, and on-chain adoption continues to grow. The CLARITY Act is still under review in the Senate, and the SEC proposed the Regulation Crypto Assets proposal last week. Fidelity recommends that investors maintain a long-term perspective.