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Chart of the week: Is the crypto winter over?

After making a new all-time high above $126,000 in October 2025, bitcoin and the broader crypto market descended into what's referred to as the crypto winter (which is simply another term for a bear market that applies specifically to cryptocurrencies). But since the end of June, bitcoin has rallied roughly 40%. This has many crypto investors thinking that the crypto winter may indeed be over.
Chart of bitcoin
Source: Fidelity Trader+, as of October 22, 2026. Past performance is no guarantee of future results.

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