Fidelity Digital Assets Vice President of Research Chris Kuiper suggests that while the bottom may have occurred in July, there is a possibility of a new low in November or later this year. He notes that historical bitcoin cycles are not exactly four years long and should not be used as reliable timing tools.
The asset's price recently reached nearly $81,639, marking a nearly 30% increase over 30 days. This rally began in mid-August following an announcement from the U.S. Treasury Department regarding more than doubling the size of government debt repurchases.
In contrast, bitcoin traded below $65,000 during most of June and July, when volatility was muted. The coin previously reached a record high of $126,080 in October of last year.
Kuiper emphasizes that investors should monitor the crypto Clarity Act. This legislation is intended to provide regulatory certainty and support innovation within the U.S. digital asset ecosystem.
The market was further influenced by President Donald Trump, who in August urged lawmakers to pass the crypto market structure bill, describing the draft as very powerful after meeting with industry leaders at the White House.
