Bitcoin rally still ongoing: Fidelity Digital Assets research

Research from Fidelity Digital Assets indicates that the Bitcoin (BTC) bull market isn’t over yet, as the current acceleration phase hasn’t peaked, according to Cointelegraph. Analyst Zack Wainwright explains that acceleration phases usually come with high volatility and significant gains. He compares the current situation to December 2020, when BTC surged past $20,000. Despite an 11.44% drop this year and a nearly 25% decline from its all-time high, Wainwright notes that this level of correction is typical in past cycles. He also points out that BTC often sees two major surges during acceleration phases. In this cycle, the first surge came after the U.S. election. If a new all-time high is on the way, the second surge could start around $110,000.