Opinion: 2026 May Welcome a "Crypto Winter," but Institutionalization and On-Chain Transformation Are Accelerating


BlockBeats News,

December 29, Cantor Fitzgerald's latest year-end report indicates that Bitcoin may be entering a multi-month downtrend, with the market potentially preempting the 2026 "Crypto Winter."

Analyst Brett Knoblauch believes that Bitcoin has fallen approximately 85 days from its recent peak, and the price may continue to face pressure, even testing the Strategy's average cost line of around $75,000. However, unlike previous cycles, this downturn is unlikely to be accompanied by large-scale liquidations or systemic crashes.

Cantor points out that the current market is being led by institutions rather than retail investors, and the "divergence" between token prices and on-chain fundamentals is widening, especially in the fields of DeFi, tokenized assets, and crypto infrastructure.

Cantor concludes that although 2026 may not usher in a new bull market, the institutionalization, compliance pathways, and on-chain infrastructure of the crypto industry are gradually being solidified alongside the cooling of prices.
BTC3,24%
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