# Bitcoin Cycle İlgili Makaleler

Cantor Fitzgerald: Crypto Winter to Strengthen Institutions

Cantor Fitzgerald analyst Brett Knoblauch suggests the crypto market is entering an early-stage downturn, or "crypto winter," which may last for months. Unlike previous cycles, this downturn lacks mass liquidations and structural failures, reflecting a market now dominated by institutional players rather than retail traders. The analyst notes a growing divergence between token prices and real infrastructure progress, particularly in DeFi and real-world asset (RWA) tokenization. Tokenized assets reached $18.5 billion in 2025 and are projected to exceed $50 billion by 2026 as banks adopt on-chain settlements. Decentralized exchanges continue gaining market share despite lower trading volumes, and prediction markets are growing, with sports betting volumes surpassing $5.9 billion. Platforms like Robinhood, Coinbase, and Gemini are entering this space, promoting transparency over traditional bookmakers. Cantor warns that Bitcoin's price, only 17% above Strategy’s average purchase price, could trigger concern if it falls further, though large-scale selling is unlikely. The bank views this period as a foundation-building phase, leading to more sustainable and structurally sound industry growth in the future.

TheNewsCrypto12/30 12:00