Fidelity Digital Assets says bitcoin is leading crypto market stabilization
Despite muted prices to start the second quarter, the report said improving onchain metrics and network activity point to a market finding its footing.
What to know:
- Fidelity Digital Assets said bitcoin remains the market’s anchor, with capital concentrated in the most liquid asset.
- Momentum and profitability indicators suggest a stabilizing corrective phase is underway.
- Ethereum and Solana usage trends diverge from price, signaling continued network-level demand, the report said.
Rather than focusing solely on prices, the report is framed through a broader lens of risk, positioning and cycle dynamics across bitcoin , ether (ETH) and solana (SOL).
Bitcoin, the largest cryptocurrency, continues to serve as the market’s primary source of resilience, with unrealized profit levels and dominance metrics indicating that capital remains concentrated in the most established and liquid asset during the consolidation phase.
“BTC’s dominance continues to gradually increase after declining throughout the latter half of 2025,” wrote analysts led by Daniel Gray.
The digital asset was trading around $77,000 at publication time.
Crypto markets have turned in a choppy performance in recent months, with bitcoin and other major tokens largely range-bound as investors navigate a complex macro backdrop.
