Wall Street investment bank Cantor Fitzgerald evaluated that Bitcoin may have entered the closing phase of the last decline period. The institution stated that there may be only a few months left before the bottom level of this retreat is seen. This approach indicates that traditional financial institutions are monitoring ETF-derived liquidity flows more closely with on-chain data.
Corporate view focuses on the cycle, not the short-term goal
Cantor Fitzgerald is an investment bank that is the primary trader in the US Treasury market and has an influential position in the capital markets. The agency’s assessment focuses on the timing of market cycles rather than providing short-term price forecasts. The company reminds that after previous sharp declines in Bitcoin, new institutional investors generally return to the market within 12 to 18 months.
Cantor Fitzgerald assesses that Bitcoin may be in the final phase of a bear market, with the bottom only a few months away from this pullback.
This view coincides with two trends. While the continuation of net money inflow to spot Bitcoin ETFs traded in the USA is the first of these, the revival of interest in higher risk assets in the technology, media and telecommunications sectors stands out as the second headline.
ETF flows and IPO data draw attention
According to CoinShares data, the majority of net funds entering crypto asset-focused investment products this year were Bitcoin-focused products. On the other hand, Nasdaq announced that the IPO volume on its platform reached 129.3 billion dollars in the first half of 2026. This chart shows that risk appetite is signaling a recovery not only on the crypto side, but also in the broader capital markets.
| Indicator | Situation |
|---|---|
| US spot Bitcoin ETFs | Net entries continue |
| CoinShares data | Bitcoin products stood out in annual entries |
| Nasdaq IPO volume | 129.3 billion dollars in the first half of 2026 |
The most striking element of the evaluation was that this opinion came from an institution at the center of the US government bond market, rather than the price forecast.
Main risks and possible supporting factors monitored in the market
The main question facing the market is whether a period of deep decline is truly nearing its end. Institutional investors, developers and stock exchanges are watching whether venture capital investments and IPO applications in blockchain companies will gain momentum again. This cycle also directly impacts asset managers and stablecoin providers who hold Bitcoin and Ethereum ETF portfolios.
Regulatory uncertainty and macroeconomic volatility stand out among downside risks. On the other hand, the strengthening of the ETF infrastructure and the more favorable market structure are among the main factors that can support the upward scenario.
Cantor Fitzgerald’s assessment does not provide a definitive judgment on the short-term direction in Bitcoin. However, such messages from the traditional finance front show that the cycle-based reading is gaining strength again in the crypto market.
