Bernstein: The crypto market is structurally strengthening, and Bitcoin is expected to enter a longer-term bull market

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Deep Tide TechFlow News, April 27 — According to The Block, investment research firm Bernstein analysts stated in their latest report that the fundamentals of the crypto market are continuously improving. Bitcoin’s recent low of $60,000 has formed a clear bottom, and with current prices approaching $80,000, driven by institutional demand, a longer-term structural bull market is expected to emerge.

Bernstein analyst Gautam Chhugani pointed out the following key drivers:

Institutional channel expansion continues: Morgan Stanley Bitcoin ETF and Charles Schwab’s spot Bitcoin/Ethereum trading platform have been launched successively. About 60% of Bitcoin supply has not moved for over a year, indicating a stabilization in holder structure;

Strategy continues to increase holdings: its STRC perpetual preferred stock product attracts income-focused investors, with current holdings reaching 818,334 Bitcoins;

Stablecoin demand hits record highs: stablecoin supply surpasses $300 billion, decoupling from crypto market price cycles, indicating ongoing growth in real payment and settlement needs;

Tokenization of real assets accelerates: tokenized assets such as private credit and government bonds reach $345 billion, a 110% year-over-year increase.

Bernstein also warns that quantum computing poses a long-term potential risk, but expects the blockchain ecosystem to have sufficient time to complete post-quantum security transitions.

BTC-1.78%
ETH-3.34%
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