Bitcoin Downcycle Nears End, Cantor Fitzgerald Predicts Late October Low

Cantor Fitzgerald's latest report suggests that the cryptocurrency market has reached its final stage of the downcycle, which is expected to be followed by a recovery. The report states that Bitcoin (BTC) has fallen about 51% from its peak and could reach a bottom in late October based on historical averages.

According to Cantor Fitzgerald's analysis, past cycles have taken an average of 384 days to reach a bottom, with 252 days having passed since Bitcoin's high on June 10. Given this timeframe, the bank predicts that Bitcoin could hit its low in late October.

The report advises investors to focus on projects that generate sustainable value rather than speculative assets. Cantor Fitzgerald cites Hyperliquid (HYPE) as a representative example of a project with long-term potential.

While Solana (SOL), Sui (SUI), XRP, and Zcash (ZEC) are mentioned in the report, they need to prove that ecosystem growth is translating into token demand. If Bitcoin successfully holds its current support level at $57,849, it may attempt a recovery to $62,479; if it fails, Bitcoin could fall back into the $55,000 range.