Morning Minute: Fidelity Is Cautiously Bullish on Crypto

Tyler Warner

Tue, April 28, 2026 astatine 6:28 AM CDT 6 min read

Morning Minute is simply a regular newsletter written by Tyler Warner. The investigation and opinions expressed are his ain and bash not needfully bespeak those of Decrypt. And check retired our new regular quality show covering each of the apical stories successful 5 minutes oregon less, downloadable connected Apple Pod oregon Spotify.

GM!

Today’s apical news:

• Crypto majors tumble arsenic lipid jumps to $100; BTC astatine $76,400

• White House advisor teases large Strategic BTC Reserve announcement soon

• Fidelity says crypto is uncovering a floor, ETF request could interruption 4-year cycle

• Bitcoin dev announces plans for hard fork into eCash, would reassign Satoshi coins

• Gemini becomes archetypal regulated speech to motorboat agentic trading

💰 Fidelity Says The Crypto Market Is Finding Its Floor

Fidelity Digital Assets published its Q2 2026 Signals Report connected Monday, and the work is cautiously bullish.

Despite Bitcoin’s 52% drawdown from its October 2025 all-time high, 3 cardinal underlying metrics—unrealized profitability, momentum, and web usage—are each improving.

• Bitcoin’s NUPL turned affirmative for the archetypal clip since January.

• BTC dominance is rising arsenic superior concentrates successful the astir liquid asset, a signifier that has historically preceded broader altcoin rotation

• Negative futures backing rates look bearish but are apt tied to organization hedging

ETH and SOL amusement divergence betwixt terms and web activity, with protocol-level usage holding up contempt lagging token prices. Fidelity frames this arsenic a positive.

On the carnivore case: a accepted four-year rhythm bottommost would constituent to November 2026, and anterior cycles saw 70%+ drawdowns from the all-time high. Bitcoin’s February debased was astir 52% disconnected the peak, abbreviated of that threshold.

But Fidelity does stock that ETF inflows and firm treasury request make structural buying unit that didn’t beryllium successful anterior cycles—and frankincense the bottommost whitethorn successful information beryllium in…

⑃ A Bitcoin Developer Wants to Fork BTC and Spend Satoshi’s Coins to Fund It

LayerTwo Labs CEO Paul Sztorc announced plans to hard fork Bitcoin into a caller concatenation called eCash, launching successful August astatine artifact tallness 964,000.

Every BTC holder gets eCash 1:1 astatine the fork. The concatenation is built astir Drivechains, Sztorc’s decade-old scaling connection that Bitcoin Core developers person repeatedly refused to merge.

There is immoderate controversy, arsenic Sztorc planned to reassign up to 500,000 of Satoshi’s ~1.1 cardinal dormant BTC to aboriginal investors arsenic a backing mechanism, marking the archetypal clip immoderate Bitcoin fork has projected touching Satoshi’s stack. Community absorption was astir 80-85% negative.