Report: Bitcoin's new bull market may last longer, industry "the best phase still ahead"

ME News Report, April 28 (UTC+8), research firm Bernstein’s latest report states that as Bitcoin approaches the $80k mark, the crypto market is entering a new phase of structural growth. This cycle may be longer than previous ones and features an “asymmetric upside potential.” The report points out that the previous pullback to $60k has formed a phased bottom, and the market is being driven by institutional funds and integration with the traditional financial system. Analyst Gautam Chhugani said, “The best times for the crypto industry are still ahead, which will be reflected in a higher and more sustained bull market cycle.” Regarding supply structure, about 60% of Bitcoin has not moved for over a year, indicating an increase in long-term holders; at the same time, ETFs and corporate balance sheet allocations continue to absorb supply. Strategy currently holds approximately 818k BTC, and its yield products are also attracting more traditional funds. On the institutional front, Morgan Stanley and Charles Schwab are expanding Bitcoin ETF and spot trading access, further lowering investment barriers. Fundamentally, stablecoin supply has surpassed $300 billion, with increased real payment and settlement demand; tokenization of real-world assets (RWA) has reached $345 billion, a 110% year-over-year increase. Additionally, platforms like Hyperliquid are promoting active on-chain trading of stocks and commodities. The report also notes that quantum computing poses a long-term potential risk to crypto security, but it is controllable in the short term, and the industry has ample time to transition to quantum-resistant standards. (Source: ChainCatcher)