According to PANews, a recent report by Fidelity Digital Assets highlights the ongoing Bitcoin bull market's impact on its role within modern investment portfolios. Since the halving event in April, Bitcoin's hash rate has increased by 50%, and its realized market capitalization has surged by 63% to $915 billion, indicating growing market confidence.
The report identifies three key characteristics of this cycle: the approval of spot ETFs has led to an inflow of $134 billion; institutional holdings have reached new heights, with MicroStrategy holding 576,000 BTC; and the Puell Multiple indicator has stabilized, suggesting the market has adapted to the reduced issuance post-halving. Bitcoin's price has risen by 31% since the halving, recently achieving a new all-time high.
Daniel Gray, a senior analyst at Fidelity, notes that the resilience of the Bitcoin network and the peak level of institutional participation are establishing Bitcoin's status as a mature asset class.
