Bernstein: Bitcoin Forms Clear Bottom at $60,000, Optimistic About Future Structural Bull Market

On April 27, brokerage and research firm Bernstein released a report stating that as Bitcoin approaches $80,000, the fundamentals of the crypto market are strengthening, and the recent low around $60,000 has formed a clear bottom. Analysts believe that stable institutional capital inflows from asset management firms and brokerages, continuous accumulation of Bitcoin through Strategy via STRC, and the increasing integration of blockchain with traditional financial infrastructure are key factors driving the market towards asymmetric upside. The report highlights that ETF-driven institutional demand is reinforcing Bitcoin’s holding base, with over 60% of the supply remaining unmoved for more than a year. Additionally, the supply of stablecoins has reached a historical high of over $300 billion, indicating sustained real-world demand for dollar payments and settlements. Furthermore, the scale of tokenized real-world assets (RWA) such as private credit and U.S. Treasury bonds has increased by 110% year-on-year, reaching $34.5 billion. Analysts concluded, ‘The best days for cryptocurrencies are still ahead, which will be reflected in a higher and structurally longer crypto bull market.’