Fidelity: Bitcoin May Be Forming a Base for the "Next Major Uptrend" as Crypto Market Stabilizes

April 27 — Fidelity Digital Assets' Q2 2026 Signals Report says the crypto market remains in a consolidation phase, but a range of metrics are beginning to point to early stabilization. Fidelity describes Bitcoin as the market's "anchor," with capital continuing to concentrate in the most liquid asset. The firm cites Bitcoin's market-share strength and unrealized profit levels as signs of relative resilience during periods of heightened volatility. Analysts add that broader momentum and profitability indicators still resemble a correction, a setup that could help rebuild a steadier market structure. The report also notes a disconnect between on-chain activity and price action in Ethereum and Solana. Despite softer price behavior, sustained network usage suggests protocol-level demand has not meaningfully weakened. Separately, Fidelity's Head of Global Macro Strategies Jurrien Timmer reiterated a constructive view on Bitcoin, saying it has rebounded from a $60,000 low and is establishing a new base around $78,000 ahead of "the next major upward wave." Fidelity also said flows appear to be rotating back from gold into Bitcoin ETPs, reversing the pattern seen late in 2025.