Report: Bitcoin’s next bull cycle may be even longer; the industry’s “best phase is still ahead”

ME News, April 28 (UTC+8): A new report from the research firm Bernstein says that as Bitcoin approaches the $80k mark, the crypto market is entering a new round of structural growth. This cycle may be longer than previous ones and comes with “asymmetric upside space.” The report notes that the prior pullback to $60k has formed a temporary bottom, and the market is being driven by the integration of institutional capital with traditional financial systems. Analyst Gautam Chhugani said: “The best days for the crypto industry are still ahead, and that will show up in higher, longer-lasting bull market cycles.”

In terms of supply structure, about 60% of Bitcoin has not moved for more than a year, indicating an increased share of long-term holders. At the same time, ETF allocations and corporate balance-sheet allocations continue to absorb supply. Strategy currently holds about 818k BTC, and its yield-oriented products are also attracting more traditional capital. On the institutional channel side, firms such as Morgan Stanley and Charles Schwab are expanding access to Bitcoin ETFs and spot trading, further lowering the investment barrier.

On fundamentals, stablecoin supply has surpassed $300 billion, and real payment and settlement demand has strengthened. The tokenization scale of real-world assets (RWA) reached $345 billion, up 110% year over year. In addition, platforms similar to Hyperliquid are boosting on-chain activity for stocks and commodities trading. The report also cautions that quantum computing poses a long-term potential risk to crypto security, but it is controllable in the short term, giving the industry enough time to transition to post-quantum standards. (Source: ChainCatcher)