Key Highlights
- Wall Street firm Cantor Fitzgerald projects Bitcoin is approaching the conclusion of its bear market phase
- Analysis of past cycles indicates a possible trough in late October 2026
- Bitcoin has declined approximately 51% from its 2025 all-time high, currently near $59,500
- Analysts highlight Hyperliquid, Ethereum, and Bitcoin as prime choices for lasting value
- Cantor initiated bullish coverage on two cryptocurrency treasury firms
Major financial institution Cantor Fitzgerald has released analysis suggesting that Bitcoin’s current downturn may be approaching its final chapter. According to a Tuesday research note from the firm’s team headed by Gareth Gacetta, digital asset markets are transitioning into the concluding phase of this bear cycle.
By June 10, Bitcoin had been in decline for 252 days following its 2025 all-time high, experiencing approximately 51% losses. Historical analysis of the prior three market cycles reveals Bitcoin typically reaches its lowest point an average of 384 days after establishing peak prices. Following this pattern, the cryptocurrency could find its floor around the end of October 2026.
The investment bank emphasized that this framework shouldn’t be viewed as an exact prediction mechanism. Variables including macroeconomic conditions, regulatory developments, and international tensions could alter the timeline. However, Cantor observed that cryptocurrency markets’ self-reinforcing characteristics mean past patterns often repeat themselves.
Bitcoin was valued at approximately $59,500 when this analysis was published.
The wider cryptocurrency ecosystem has faced significant headwinds recently. A pronounced June correction, fueled by continued ETF redemptions, elevated borrowing costs, and diminished appetite for risky assets, sent Bitcoin tumbling more than 50% beneath its late-2025 record.
Ether and the majority of alternative cryptocurrencies have lagged Bitcoin throughout this downward trend. Select sectors, particularly decentralized finance protocols and asset tokenization platforms, have demonstrated comparative strength.
Cantor’s Investment Recommendations
With markets potentially approaching an inflection point, Cantor advised clients to pivot away from speculative trades toward networks demonstrating sustainable value generation.
The financial institution emphasized that transaction volume alone doesn’t guarantee token appreciation. Projects positioned for long-term success must transform network activity into consistent revenue streams or enduring monetary utility.
Cantor identified Hyperliquid as the premier example of fee-based tokenomics, highlighting its token buyback and destruction mechanism. Bitcoin was characterized as the foundational monetary asset. Ethereum received recognition as the primary collateral infrastructure for blockchain-based finance.
Solana, Sui, XRP, and Zcash each possess unique competitive advantages, according to Cantor, though they must still demonstrate capability to convert ecosystem expansion into sustained token value.
The bank also spotlighted digital asset treasury corporations as an underappreciated investment opportunity. It noted that leading companies are evolving beyond simple cryptocurrency accumulation toward active strategies that generate returns and develop critical infrastructure.
Cantor launched coverage of Forward Industries and Cypherpunk Technologies with overweight recommendations. Target prices were established at $7.90 and $0.90, respectively.
Broader Market Landscape
According to CoinShares data, Bitcoin-focused investment vehicles have led net capital inflows into digital asset products throughout 2026. Nasdaq disclosed $129.3 billion in IPO activity across its platform during the year’s first six months.
A Bitcoin recovery could serve as a trigger for increased exchange listings and startup investment within the blockchain sector. Regulatory guidance from agencies including the SEC continues to represent a critical factor.
Primary downside concerns include macroeconomic instability and regulatory ambiguity. Key upside catalysts include enhanced ETF infrastructure and more favorable market conditions.
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