In its year-end review, Cantor Fitzgerald indicated that Bitcoin (BTC) might be entering a prolonged downtrend, potentially leading to a “crypto winter” by the year 2026.
The analysis reveals that Bitcoin has been on a downward trajectory for about 85 days since reaching its latest high. If this price pressure persists, there is a chance it could approach an average cost level of approximately $75,000 as per Strategy’s metrics.
Analyst Brett Knoblauch suggested that the current market pullback may extend longer than previous downturns; however, it is not anticipated to escalate into a systemic crisis. Unlike earlier bear markets, Cantor Fitzgerald does not predict significant liquidations or cascading failures during this phase.
The report also pointed out notable changes in market dynamics. It observed that while institutional investors are becoming more prominent in this cycle, there is an increasing disparity between token price movements and on-chain fundamentals. Specifically, it noted that activities within DeFi (Decentralized Finance), tokenized assets, and crypto infrastructure continue to strengthen independently of price variations.
On the regulatory side of things, the enactment of the US Digital Asset Markets Clarity Act was deemed pivotal. This legislation is expected to diminish policy ambiguities and foster greater participation from banks and asset management firms in cryptocurrency markets.
Although Cantor Fitzgerald recognizes that a new bull market may not commence right away in 2026, they conclude that institutional adoption processes and compliance frameworks will gradually solidify as prices stabilize.
*This content should not be interpreted as investment advice.