Fidelity says crypto market is stabilizing with BTC as pivotal anchor

Fidelity Digital Assets, the crypto-focused arm of global asset manager Fidelity, stated in a new report that Bitcoin is playing a pivotal role in stabilizing the cryptocurrency market. According to CoinDesk, Fidelity Digital Assets noted that while the crypto market recently entered a correction phase, improvements have been observed in key indicators such as unrealized profits, momentum, and network usage. This is a sign that the market is stabilizing, the report added. The firm also projected that Bitcoin's market dominance, which declined throughout the second half of last year, is expected to gradually shift to an upward trend as it continues to be at the center of the market's overall recovery.