Bitcoin and Ethereum Price Analysis: Fidelity Report Highlights Impact of Halving and Upgrade

  • Fidelity Digital Assets’ recent report delves into the performance of Bitcoin and Ethereum in the first quarter of 2024.
  • Bitcoin’s upcoming halving and Ethereum’s Deneb-Cancun upgrade have significantly shaped the crypto landscape.
  • “Despite selling pressure, the short-term outlook for both Bitcoin and Ethereum remains positive,” states the Fidelity report.

Learn about the key factors influencing Bitcoin and Ethereum prices, including network upgrades, halving events, and insights from Fidelity’s in-depth analysis.

Bitcoin Trades at ‘Fair’ Value, Ethereum Benefits from Upgrade

Bitcoin Fidelity Report

Fidelity Digital Assets’ Q1 2024 Signals Report offers a comprehensive analysis of Bitcoin (BTC) and Ethereum (ETH). The report notes that Bitcoin’s halving and Ethereum’s Deneb-Cancun upgrade are playing crucial roles in market dynamics. While both cryptocurrencies had impressive starts to the year, recent weeks have seen some retracement.

Bitcoin’s Halving and Selling Pressure

Bitcoin’s strong start to 2024 has been tempered by recent selling pressure. Fidelity suggests this could be due to miners taking profits in anticipation of the 2024 halving. Despite this, the outlook remains positive, with BTC trading above its 200-day moving average and the bullish ‘golden cross’ pattern formed in late 2023.

Ethereum’s Positive Momentum Post-Upgrade

Ethereum Fidelity Report

Ethereum’s Deneb-Cancun upgrade has revitalized the network, with positive price signals and growing on-chain metrics. The network’s deflationary trend, increased validator participation, and Layer 2 adoption further solidify ETH’s long-term potential.

Conclusion

Fidelity’s report offers valuable insights into the evolving cryptocurrency market. Bitcoin’s approaching halving and Ethereum’s successful upgrade are shaping investor sentiment and network fundamentals. While short-term fluctuations are expected, the outlook for both BTC and ETH remains promising for investors with a long-term perspective.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Bitcoin Spot ETF Sees Massive $490 Million Inflow: BlackRock’s IBIT Leads the Way

Recent analysis by COINOTAG on November 23rd highlighted a...

Ethereum Spot ETF Sees Massive $92.3 Million Net Inflows, Led by BlackRock and Fidelity

On November 23rd, data sourced from Farside Investors and...

MARA Invests $550 Million in Bitcoin (BTC), Boosting Holdings to 33,875 BTC Amid Record Financing

On November 23, COINOTAG reported that crypto mining giant...

Democratic SEC Commissioner Jaime Lizárraga Resigns, Leaving Trump with Opportunity to Reshape SEC Majority

In a significant development for the U.S. Securities and...

ZKasino’s Alarming Embezzlement: 5,270 ETH and 11.5M DAI Manipulated for On-Chain Leverage Long ETH

On November 23rd, COINOTAG News reported a concerning development...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img