Fidelity’s macro chief David Karp has a clear forecast: Bitcoin will bottom near $65,000 in 2026, ending the current four‑year bull cycle, yet he still sees long‑term upside.

What Happened

Karp, director of macro research at Fidelity, released a note outlining his view that a sharp correction is likely before 2026, after Bitcoin’s recent rally to near $70,000. He cites macro‑economic factors and the need for a reset in market sentiment.

Why It Matters for Bitcoin

A $65,000 bottom would represent a dramatic pullback from today’s levels, potentially reshaping investor expectations and liquidity. Karp’s bullish stance on long‑term upside suggests he believes Bitcoin will recover and continue to grow beyond the cycle’s end.

U.S. Angle

For U.S. investors, this forecast comes amid heightened regulatory scrutiny. The SEC’s ongoing review of spot Bitcoin ETFs, Fed tightening policy, and recent CPI data all play into the broader market environment that could influence Bitcoin’s trajectory.

What to Watch Next

  • 2025 CPI releases and Fed policy decisions
  • SEC’s stance on Bitcoin ETF approvals
  • Bitcoin network upgrades and security developments
  • US Treasury yields and their impact on risk‑seeking assets

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Source

Cointelegraph – Fidelity macro lead calls $65K Bitcoin bottom in 2026