According to Cantor Fitzgerald, Bitcoin may be entering a significant dip, but this phase could pave the way for a more stable era driven by institutional investors.
The current market conditions suggest that we might be witnessing the onset of a crypto winter, reflecting Bitcoin’s historical four-year patterns, as highlighted in a year-end analysis by Brett Knoblauch. Bitcoin has surpassed its peak by approximately 85 days, and Knoblauch indicates that prices might remain under considerable pressure for months, potentially revisiting MicroStrategy’s (MSTR) average breakeven point around $75,000.
What’s noteworthy about this decline is that, unlike previous downturns, it may not be marked by widespread liquidations or major structural breakdowns. According to Knoblauch, it’s institutional players—rather than individual investors—who are now influencing market dynamics, pointing to a growing discrepancy between token prices and underlying developments, particularly in decentralized finance (DeFi), tokenized assets, and crypto infrastructure.
A key area of growth is the tokenization of real-world assets (RWAs). The report reveals that the overall value of on-chain tokenized RWAs, including credit products, U.S. Treasuries, and equities, has surged threefold this year, reaching $18.5 billion. Cantor Fitzgerald forecasts that this figure could exceed $50 billion by 2026 as more financial institutions begin to adopt on-chain settlement methods.