Fidelity Says Bitcoin Bear Market May Not Be Over

Bitcoin’s bear-market phase may still have further to run, according to an assessment from Fidelity cited by Bitcoin Magazine. The analysis suggests the cryptocurrency may have reached a market bottom in July, but it also points to evidence that bitcoin could decline again and establish a new low later this year. The view leaves open two possibilities: July may have marked the low, or another downturn could follow before the year ends. Bitcoin Magazine published the report on September 3, 2026, in an article written by Mathew Di Salvo. The assessment provides a cautious reading of bitcoin’s market cycle, with Fidelity stopping short of confirming that the broader decline has ended. No price target or specific level was provided in the supplied report.