BlockBeats message, April 1, Fidelity Digital Assets said that Bitcoin has fallen by about 50% in this round of the market cycle, with the decline much smaller than in previous cycles, and that this trend may continue as time goes on.
Fidelity Digital Assets research analyst Zack Wainwright said Tuesday that after Bitcoin set a new all-time high, the size of its subsequent pullback has historically been relatively large—about 80% to 90%—but the pullback in this cycle is about 50%. If you look at Bitcoin’s price performance from the perspective of the previous cycle’s historical peak, you can see a pattern of “diminishing returns” forming between cycles. “The upside move in each cycle has been weaker than the previous cycle,” he said, “and in 2026, which is the current cycle, the downside risk is also reduced.”
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