Bitcoin’s Bull Cycle Remains Firmly Intact
Bitcoin’s bull cycle remains firmly intact, with July delivering five new all-time high (ATH) closes, according to Fidelity Digital Assets. The asset’s momentum from Q2 has clearly carried over, with the majority of trading days reflecting high profit and high volatility conditions—a hallmark of what Fidelity terms the “Acceleration Phase.”
The newly published chart by Fidelity shows that 54 of the past 91 days—nearly 60%—have fallen within this green-labeled Acceleration Phase. This period is characterized by significant price movement and profit-taking opportunities, often preceding the final leg of a bull market.
July’s close at $119,420 on the 30th reflects one of the strongest streaks in recent memory. The price action contrasts sharply with the earlier months of the year, particularly February through April, which showed prolonged periods of consolidation and low profit amid high volatility—Fidelity’s so-called “Reversal Phase.”
Market Outlook for August
While August has just begun, all eyes are on whether Bitcoin can sustain this rally or if signs of a “blow-off top” begin to emerge. Fidelity’s research team notes that they’ll be watching for any signs of weakening momentum or overheating as Bitcoin enters potentially euphoric territory. With Bitcoin firmly above $100,000 and volatility rising alongside profit margins, investors and analysts alike are bracing for either another leg up—or the beginning of the end for this acceleration wave.
Kosta Gushterov
Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.
