TL;DR

Crypto bear markets rarely end because one chart suddenly looks better. They usually end when several pieces start lining up at the same time: supply dynamics, liquidity, investor access, macro conditions, and a reason for capital to believe the next cycle has a stronger foundation than the last one.

That is the frame behind research from Fidelity Digital Assets, available through its research and insights portal, which looks at the recurring catalysts that have helped past crypto downturns give way to new market phases.

The Five Catalysts Fidelity Is Watching

The first catalyst is the most familiar one: Bitcoin’s four-year halving cycle. Halvings do not magically create a bull market the next day, but they have historically changed…