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

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Golden Finance reports that on 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, with Bitcoin’s recent low of $60,000 clearly forming a bottom, and 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 core driving factors:
• Continuous expansion of institutional channels: Morgan Stanley Bitcoin ETF and Charles Schwab’s spot Bitcoin/Ethereum trading platform have been launched successively, approximately 60% of Bitcoin supply has not moved in over a year, and the holder structure is becoming more stable;
• Strategy continues to increase holdings: Its STRC perpetual preferred stock product attracts income-focused investors, with current holdings reaching 818,334 Bitcoins;
• Demand for stablecoins hits a record high: Stablecoin supply surpasses $300 billion, decoupling from crypto market price cycles, indicating that real payment and settlement needs are continuously growing;
• Tokenization of real assets accelerates expansion: Tokenized assets such as private credit and government bonds reach a scale of $345 billion, a year-over-year increase of 110%.
Bernstein also warns that quantum computing poses a long-term potential risk, but expects the blockchain ecosystem to have sufficient time to complete the transition to quantum safety.

BTC-1.9%
ETH-3.19%
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