Bitcoin’s Four-Year Cycle May Be Ending, Fidelity Research Suggests

TLDR: Fidelity data shows Bitcoin volatility hitting record lows even months after the 2025 price peak near $126,000. Public companies and ETFs now hold nearly 12% of Bitcoin supply, signaling major institutional accumulation. Bitcoin’s MVRV ratio has stayed near 2x realized value this cycle, far below peaks seen in past bull markets. Fidelity’s profit-to-volatility ratio [...]

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