Wall Street investment bank Cantor Fitzgerald has suggested that Bitcoin may be entering the closing phase of its current downturn. The firm believes the market could be only a few months awa
Wall Street investment bank Cantor Fitzgerald has suggested that Bitcoin may be entering the closing phase of its current downturn. The firm believes the market could be only a few months away from reaching its bottom in this correction period. Their view highlights how established financial institutions are paying closer attention to on-chain data and liquidity flows related to spot Bitcoin ETFs.
Institutional focus shifts from short-term targets to market cycles
Cantor Fitzgerald, a primary dealer in the US Treasury market and a prominent force in global capital markets, based its analysis not on short-term price forecasts but on market cycle timing. The firm noted that, historically, new institutional investors have typically returned to the market within 12 to 18 months after sharp Bitcoin declines.
Cantor Fitzgerald believes Bitcoin is likely in the final stage of its bear market, estimating that only a few months remain before the market finds a bottom during this pullback.
This outlook coincides with two key trends. First is the continued inflow of funds into spot Bitcoin ETFs trading in the US. Second is the renewed appetite for higher-risk assets, particularly within the technology, media, and telecommunications sectors.
ETF inflows and IPO data attract attention
According to figures from CoinShares, the majority of net capital flowing into crypto asset investment products this year has been concentrated in Bitcoin-focused offerings. Meanwhile, Nasdaq reported that the value of IPOs on its platform reached $129.3 billion in the first half of 2026. These developments suggest that risk appetite is rebounding, not only in crypto but across wider capital markets.
IndicatorStatusUS spot Bitcoin ETFsNet inflows continueCoinShares dataBitcoin products led year-to-date inflowsNasdaq IPO volume$129.3 billion in H1 2026
What stood out in Cantor Fitzgerald’s assessment was not its price prediction, but that this perspective came from an institution at the heart of the US government bond market.
Key risks and potential catalysts watched by the market
A core question for market participants is whether the drawn-out downturn is genuinely nearing an end. Institutional investors, developers, and exchanges are closely monitoring if venture capital investments and IPO applications at blockchain firms will pick up pace again. This cycle directly impacts asset managers holding Bitcoin or Ethereum ETFs, as well as stablecoin providers.
On the downside, regulatory uncertainty and broader macroeconomic volatility remain major risks. Conversely, stronger ETF infrastructure and a more favorable overall market structure are considered the main factors that could boost market sentiment going forward.
While Cantor Fitzgerald’s commentary stops short of offering a definitive short-term direction for Bitcoin, it underlines the growing influence of cycle-based analysis from traditional finance players within the crypto sector.
The presence of such viewpoints from established Wall Street banks indicates market participants are increasingly attentive to both capital flows around spot ETFs and longer-term investment cycles.
This broader investment momentum—seen not only in Bitcoin ETFs but also in general IPO activity—reflects a revived risk appetite across key financial sectors.
Ultimately, Cantor Fitzgerald’s market outlook is watched closely, given its influential role in US financial markets and its reputation as a key player in government bonds and major investment flows.
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