Fidelity: Bitcoin Bear Market May Not Be Over, New Lows Possible in November

Fidelity Digital Assets has released its Q4 outlook for the cryptocurrency market, noting that Bitcoin and the crypto market saw a significant surge at the end of August, with major tokens like BTC and ETH recording their largest monthly gains since the end of 2025. Some investors are wondering if November will mark the bottom of the bear market, but Fidelity cautions that this pattern may not repeat; the bottom could have already occurred in July, or it may be reached in November or even later. Fidelity points out that historically, the end of a bear market is usually accompanied by a period of low volatility followed by upward price expansion. At the end of August, BTC surged over 25% in a single week, while ETH and SOL rose by 34.1% and 28%, respectively. Recent security incidents involving hardware wallets and the stagnation of the CLARITY Act have not suppressed prices, potentially reinforcing the view that crypto assets are nearing a bottom. Stablecoin trading volume has reached 2.3 times that of Visa, and the RWA market is expected to grow faster in 2026 than in previous years, with continued growth in on-chain adoption. The CLARITY Act is still under review in the Senate, and the SEC proposed the Regulation Crypto Assets last week. Fidelity advises investors to maintain a long-term perspective.

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