Fidelity: "Bitcoin, the only loser in 2024"… Technical and economic downward pressures converge

Source: TokenPost Original Title: Fidelity: “Bitcoin, the Only Loser in 2024”…Technical and Economic Downward Pressures Converge Original Link:

As expectations for Bitcoin diminish, global investment firm Fidelity recently identified Bitcoin as the “唯一的败者(lone loser)” of this year. Julian Timm, Head of Global Macro at Fidelity Investments, explained, “Bitcoin’s performance over 2025 has been relatively poor compared to other asset classes,” indicating short-term downward pressure.

Timm pointed out that corporate financial strategies that previously provided ‘returns’ through Bitcoin were once a bullish factor but now act as negative variables. He added, “Past Bitcoin payment financial policies were regarded as positive, but now they are becoming a burden on the market,” highlighting increasing uncertainty among Bitcoin-holding companies like Tesla and MicroStrategy.

Technical analysis also supports a bearish outlook for Bitcoin. Timm suggested that Bitcoin is breaking below its long-term upward trendline and indicated the possibility of a ‘peak’ within this four-year cycle. He noted, “The rally that started around 16 million won in 2022 appears to have entered maturity, and compared to cycles since 2010, the volatility and duration are gradually decreasing and lengthening.”

The macroeconomic environment also poses hurdles for Bitcoin’s price recovery. Timm pointed out that while the U.S. stock market continues its upward trend supported by strong corporate earnings and accommodative Federal Reserve policies, Bitcoin lags behind in performance. Although the Fed recently cut interest rates, increasing liquidity demand in the market, Bitcoin, which cannot generate real returns like stocks, is not benefiting from this.

Furthermore, declining volatility in foreign exchange and bond markets has reduced interest in alternative assets like Bitcoin. In the current environment where risk-averse demand has decreased, investors are more focused on traditional assets that offer stability and returns.

For Bitcoin to regain attention in the future, it will likely require new triggers that surpass macro risks and technical resistance levels. Currently, there is growing consensus that Bitcoin will find it difficult to outperform the stock market.