Fidelity Digital Assets has issued a striking warning about Bitcoin’s current market trajectory, suggesting that a stealth bull run may be underway despite seemingly muted price action. The financial giant’s analysis reveals Bitcoin has gained 63% since the 2024 halving, marking what could be the start of a more mature and sustainable growth phase.
Bitcoin’s Maturing Market Signals
According to Fidelity’s senior analyst Daniel Gray, Bitcoin’s current price movement, while less dramatic than previous cycles, masks significant fundamental strengthening. The cryptocurrency has demonstrated remarkable resilience, reaching new all-time highs above $111,000 with key metrics suggesting potential profit-taking ahead.
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Market Dominance and Network Strength
Bitcoin’s market dominance has surged to 72.4%, an eight-year high, while network security metrics show unprecedented strength. The daily hash rate exceeded one zetta hash per second twice in April, demonstrating robust mining infrastructure investment despite reduced mining rewards.
Institutional Adoption Accelerates
Spot ETF demand continues to surge, with recent data showing $934.8 million in net inflows in a single day. This institutional appetite aligns with broader market momentum as ETF inflows exceed $1B daily.
FAQ Section
Why is this bull run considered ‘stealth’?
Despite reaching new all-time highs, funding rates remain at baseline levels, indicating less market euphoria than previous cycles.
What makes this cycle different from previous ones?
This cycle shows more measured returns but stronger fundamentals, suggesting a maturing asset class rather than speculative mania.
What are the key metrics to watch?
Focus on hash rate growth, ETF inflows, market dominance, and funding rates as indicators of market health.
At press time, Bitcoin trades at $109,563, maintaining strong support levels as the market digests these developments.