BitcoinBTCFidelity Digital Assets stated that this decline could be continued over the long term.
Zack Wainwright of Fidelity Digital Assets said on Tuesday that Bitcoin’s recent drawdowns were steep in the past, with a drop between 80% and 90%. However, this time around, it was only about 50%.
The vantage point allows you to see both the “diminishing returns” When he looked at Bitcoin’s price from the standpoint of its previous highs, he explained that there have been changes from one cycle to another.
“Each cycle has been less dramatic to the upside than the previous,” He said. “Downside risk has been less dramatic in 2026, the current cycle, as well,” He also added.
TradingView says that Bitcoin price has fallen 52% since its all-time peak of $126,000 on Oct. 6. The price is down by 46% since its high six months ago.
In the previous cycle, there was a 77% decline from the all-time peak of 69,000 dollars in 2021 to just $6,000. bear market In November 2022, the price will be just $16,000.
Bitcoin could reach its lowest point in September
Fidelity’s estimate that this Bitcoin is cycle has been notably shorter than other cycles “indicates a maturing market with reduced volatility and stronger institutional confidence,” Nick Ruck of LVRG Research told Cointelegraph Wednesday.
“This shift signals that Bitcoin is changing from a speculative asset toward a more stable store of value, potentially paving the way for greater adoption in the future.”
Related: Bitcoin’s $10K range expected to hold until spot traders show up: Data
Alphractal’s founder Joao W. Wedson observed The top of Bitcoin occurred on Tuesday, 534 days later. last halvingThis cycle has a shorter duration than the last.
You can also find out more about this by clicking here. “decaying pattern” According to historical cycles, the bottom of the cycle may be between 912-922 days after the halves. “points to a bottom in late September or early October 2026,” He said.
BTC has fallen below the key daily moving Averages
Bitcoin continues to remain below two key long-term indicators, the exponential 50-day and 20-day moving averagings.
There is a slight hover at 200-week EMA. around $68,000It has proven to be a critical level of assistance during past market declines.
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Source: cointelegraph.com
