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.

BREAKING NEWS

$ENSO soon on Bybit spot

$ENSO soon on Bybit spot #ENSO

NEAR Protocol Launches House of Stake on Mainnet — Stake NEAR to Boost Voting Power and Rewards

COINOTAG reported on October 13 that NEAR Protocol has...

Amundi (€2.3T) Enters Cryptocurrency ETF Market with Bitcoin ETF — Europe’s Leading Asset Manager Steps In

COINOTAG reported on 13 October that, according to market...

LEADING EUROPEAN ASSET MANAGER AMUNDI WITH €2.3T AUM TO ENTER CRYPTO ETF MARKET: THE BIG WHALE

LEADING EUROPEAN ASSET MANAGER AMUNDI WITH €2.3T AUM TO...

CME Group Launches SOL and XRP Options (Standard & Micro) with Daily, Monthly & Quarterly Expiries — Oct 13

On October 13, CME Group officially launched trading of...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img