Fidelity Director Warns of Year-Long Crypto Winter as Bitcoin Bull Turns Bearish

A prominent Fidelity Investments director, previously optimistic on Bitcoin, has issued a stark warning about a potential "crypto winter" that could last up to a year. This shift in sentiment from a noted bull highlights growing concerns over macroeconomic pressures, including aggressive interest rate hikes by the Federal Reserve and persistent inflation. The director emphasized that these factors are driving a severe risk-off environment, negatively impacting speculative assets like cryptocurrencies. This cautionary outlook suggests a prolonged period of downturn and consolidation for the crypto market, with Bitcoin (BTC) and other major digital assets facing continued headwinds. Investors are advised to prepare for extended volatility and potential further price declines.