Recent research from Fidelity Digital Assets suggests that Bitcoinâs (BTC) bull market is far from over, as the asset remains within its âacceleration phaseâ and has yet to see a definitive blow-off top. According to Fidelity analyst Zack Wainwright, past cycles indicate that Bitcoin could still have room to surge before a correction sets in.
Bitcoinâs Current Market Cycle
Bitcoinâs price history shows that acceleration phases, characterized by high volatility and rapid gains, tend to last longer with each cycle. As of March 3, BTC was 232 days into its current acceleration phase, whereas previous cycles peaked between 244 and 280 days. This suggests that Bitcoinâs growth period may still have some time left before a potential correction.
Despite a year-to-date loss of 11.4% and a 25% decline from its all-time high, Wainwright asserts that Bitcoinâs post-acceleration behavior remains within historical norms. If previous patterns hold, Bitcoin could be on the verge of another strong upward push.
Institutional Demand Remains Strong
While Bitcoinâs price has struggled to break past $100,000 since February 21, institutional interest remains unwavering.
MicroStrategy CEO Michael Saylor announced a $1.92 billion Bitcoin purchase at an average price of $86,969 per BTC.
Bitcoin miner MARA plans to raise $2 billion to increase its BTC holdings.
Japanâs Metaplanet issued $13.3 million in bonds for Bitcoin acquisition.
GameStop revealed a $1.3 billion convertible note offering, with potential Bitcoin allocations.
This wave of institutional accumulation indicates confidence in Bitcoin as a long-term reserve asset, reinforcing its role in corporate treasuries worldwide.
Key Metric to Watch
One critical indicator for Bitcoinâs next move is the frequency of new all-time highs within a rolling 60-day period. Historically, Bitcoin experiences two major surges during each acceleration phase. If the cycle follows previous patterns, Wainwright suggests that Bitcoinâs next breakout could start from a base near $110,000.
Conclusion
While macroeconomic factors such as trade tensions and recession fears continue to impact Bitcoinâs short-term volatility, institutional investors remain committed to accumulating BTC. If Fidelityâs analysis proves correct, Bitcoin may still have another explosive leg up before this cycle reaches its peak.
#BTCčľ°ĺżĺć #btc70k #BTCâď¸ #BTCâ #Write2Earn!