Fidelity Flags Bitcoin Price Zone That Historically Marked Accumulation

Fidelity Digital Assets’ Q2 2026 Signals report finds Bitcoin in a historically ‘undervalued’ Yardstick zone—driven by falling prices and a hash-rate pullback—which has previously aligned with accumulation phases. At the same time Fidelity’s momentum signal turned negative on Oct. 18, 2025 (when BTC was near $107,000) and Bitcoin has since fallen ~36%, spending most of Q1 2026 in a range roughly between $62,500 and $76,022. NUPL sits at 0.21 (the “Hope–Fear” zone), a level that historically preceded strong one- and three-year returns, but Fidelity warns momentum and macro conditions could prevent a repeat. Fidelity’s Jurrien Timmer also flagged a tactical bear-flag test near the $79k area and noted the need for BTC to overcome trendline resistance and the 20-week EMA to confirm renewed upside. Market impact: the report provides a cautiously constructive institutional view that may support accumulation interest, but short-term momentum and resistance near ~$79–80k are key for broader bullish confirmation.