- Cantor Fitzgerald believes Bitcoin is entering the final stage of the current bear market, with a potential bottom forming within the next few months.
- The bank says historical market cycles suggest Bitcoin could reach its low around late October if previous patterns repeat.
- Analysts highlighted Bitcoin, Ethereum, and Hyperliquid as some of the strongest long-term crypto plays while urging investors to focus on projects with sustainable value.
Cantor Fitzgerald believes the cryptocurrency market may be approaching the end of its current bear cycle, with Bitcoin potentially just months away from establishing a major bottom.
In a new research report led by analyst Gareth Gacetta, the Wall Street firm said historical Bitcoin market cycles suggest the worst of the current correction could soon be behind investors, although macroeconomic and geopolitical risks remain key variables.
Bitcoin Could Be Nearing Its Bottom
According to Cantor Fitzgerald, Bitcoin has historically followed fairly consistent market cycles after reaching major peaks.
As of June 10, Bitcoin was approximately 252 days removed from its 2025 all-time high and had fallen roughly 51% from that peak. Looking at the previous three market cycles, the bank found that Bitcoin typically reached its bear market bottom around 384 days after making a cycle top.
If history follows a similar pattern, analysts believe the current correction could reach its low sometime around late October.
The firm cautioned that historical models should not be viewed as precise forecasting tools, especially given today’s evolving macroeconomic environment, regulatory developments, and geopolitical uncertainty. However, analysts noted that Bitcoin’s cyclical nature often becomes self-reinforcing as market participants react to similar historical patterns.
Market Focus Is Shifting
Cantor Fitzgerald argues that investors should begin looking beyond short-term speculation and instead focus on blockchain networks capable of generating lasting value.
While crypto adoption continues expanding across stablecoins, tokenized real-world assets, decentralized finance, and on-chain credit markets, the bank believes long-term success will depend on whether blockchain ecosystems can convert user activity into sustainable revenue, cash flow, or long-term demand for their native tokens.
Simply attracting users, the report argues, is no longer enough.
Hyperliquid, Bitcoin and Ethereum Stand Out
Among major crypto projects, Cantor Fitzgerald identified Hyperliquid as one of the strongest examples of sustainable token economics.
The bank highlighted Hyperliquid’s fee-generated buyback and burn mechanism as a model that directly links platform activity to token value.
Bitcoin continues to be viewed as the benchmark monetary asset within the digital asset sector, while Ethereum remains the dominant collateral layer supporting decentralized finance and tokenized assets.
The report also cited Solana, Sui, XRP, and Zcash as projects with unique competitive strengths. However, analysts said each network still needs to demonstrate that ecosystem growth can translate into durable long-term demand for its native token.
Digital Asset Treasury Companies Gain Attention
Beyond cryptocurrencies themselves, Cantor Fitzgerald also identified digital asset treasury companies as an increasingly attractive investment theme.
Rather than simply holding crypto on their balance sheets, the strongest treasury companies are beginning to generate staking income, develop infrastructure, and provide institutional services around digital assets.
Reflecting that view, the bank initiated coverage of Forward Industries (FWDI) and Cypherpunk Technologies (CYPH) with Overweight ratings and assigned 12-month price targets of $7.90 and $0.90, respectively.
What It Means for Investors
While Bitcoin remains under pressure following months of ETF outflows, elevated interest rates, and weaker investor appetite, Cantor Fitzgerald believes the current correction may be entering its final phase.
If historical market cycles hold true, investors could be approaching one of the most important accumulation periods of the current cycle. At the same time, the bank cautions that macroeconomic conditions, monetary policy, and regulatory developments will continue influencing the timing of any sustained recovery.
For now, Cantor Fitzgerald believes investors should focus less on speculative momentum and more on crypto projects capable of creating long-term economic value.
