- Fidelity Digital Assets suggests Bitcoin’s bull run isn’t over, as its acceleration phase hasn’t yet peaked, with historical trends pointing to a potential rally toward $110,000.
- Despite market volatility, institutional investors continue accumulating BTC, signaling strong long-term confidence.
A recent report from Fidelity Digital Assets suggests that Bitcoin’s bull market is far from over, as its current “acceleration phase” has yet to reach a dramatic peak. This phase, marked by intense price swings and high profits, resembles previous cycles that saw Bitcoin skyrocket to new highs.
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Bitcoin’s Acceleration Phases: A Pattern in Play
According to Fidelity analyst Zack Wainwright, Bitcoin is still within its acceleration phase, even though its year-to-date return shows an 11.4% decline and the asset is down nearly 25% from its all-time high. Historical data suggests that these phases tend to extend over time, with previous cycles lasting between 244 and 280 days. With the current cycle reaching day 232 in early March, a final push could still be in store before a significant correction.
Institutional Investors Keep Buying Bitcoin
Despite market uncertainty, large investors continue to accumulate Bitcoin, indicating strong confidence in its long-term potential. On March 31, MicroStrategy CEO Michael Saylor revealed that the company had purchased an additional 22,048 BTC for nearly $2 billion. Similarly, Marathon Digital (MARA) announced plans to sell $2 billion in stock to fund further Bitcoin purchases.
Even international players are joining in—Japan’s Metaplanet recently issued bonds worth $13.3 million to invest in Bitcoin, while GameStop raised $1.3 billion through convertible notes, with a portion possibly allocated to BTC acquisitions.
Will Bitcoin Hit $110K Next?
A key metric to watch, according to Wainwright, is the number of new all-time highs Bitcoin achieves within a 60-day rolling period. Historically, acceleration phases have featured two major price surges, and Fidelity’s research suggests that if Bitcoin follows this pattern, a new peak could form near $110,000.
While macroeconomic uncertainty and market volatility remain hurdles, strong institutional demand and historical trends indicate that Bitcoin’s rally might not be over yet. If past cycles repeat, the next explosive move could be just around the corner.