Cantor Says Bitcoin Bear Market May Be Entering Final Stretch
Cantor Fitzgerald said in a research note that bitcoin's historical cycle patterns suggest a market bottom could occur around October 2025, indicating the current bear market may be in its final stretch. As of June 10, bitcoin was 252 days past its 2025 peak and down about 51%, while previous cycles bottomed an average of 384 days after peaking. The bank cautioned that the model is not a precise timing tool due to macroeconomic, regulatory and geopolitical risks. With the market nearing a potential turning point, Cantor urged investors to shift focus from speculative activity to networks with durable value accrual, such as those converting usage into cash flow or monetary premium. It identified Hyperliquid as a clear example of fee-driven token economics, while noting Bitcoin remains the benchmark monetary asset and Ethereum the dominant collateral layer. The report also highlighted digital asset treasury companies as an overlooked investment theme, initiating coverage on Forward Industries and Cypherpunk Technologies with overweight ratings.
Key facts
- Bitcoin may bottom around October 2025 based on historical cycle patterns.
- Bitcoin was 252 days past its 2025 peak and down about 51% as of June 10.
- Cantor urges focus on networks with durable value accrual over speculative activity.
- Hyperliquid identified as key example of fee-driven token economics.
- Digital asset treasury companies highlighted as overlooked investment theme.