Summary
- Fidelity Digital Assets said the cryptocurrency market is showing signs of stabilization despite remaining in a correction phase.
- The report said Bitcoin is playing a central role in the market recovery as key on-chain indicators, including unrealized profit, momentum, and network usage, improve.
- The report said a potential rebound in Bitcoin dominance and a recovery in Bitcoin’s market share are key variables for overall crypto-market stability and future capital flows.
Forecast Trend Report by Period
Bitcoin is playing a central role in the cryptocurrency market’s recovery, Fidelity Digital Assets said in a report.
CoinDesk reported on April 27 that Fidelity sees signs of stabilization emerging even as the market remains in a correction.
The report said key on-chain indicators, including unrealized profit, momentum and network usage, are improving.
It also said Bitcoin continues to serve as a key anchor in the broader market recovery.
Fidelity added that Bitcoin dominance, which fell in the second half of last year, could resume rising.
Market participants are focused on whether a recovery in Bitcoin’s market share could support stability across the broader cryptocurrency market. Capital flows and changes in dominance are key variables to watch going forward.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
