Bernstein: The structural strengthening of the cryptocurrency market suggests that Bitcoin is likely to enter a longer-term bull market
By: rootdata|2026/04/27 15:46:26
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According to The Block, analysts at research firm Bernstein stated in their latest report that the fundamentals of the crypto market are continuously improving. The recent low of $60,000 for Bitcoin has formed a clear bottom, and the current price is approaching $80,000. Driven by institutional demand, a longer structural bull market is expected.
Bernstein analyst Gautam Chhugani pointed out the following core driving factors:
- Institutional channels continue to expand: Morgan Stanley's Bitcoin ETF and Charles Schwab's spot Bitcoin/Ethereum trading platform have been launched one after another, with about 60% of Bitcoin supply not having moved for over a year, indicating a stable holder structure;
- 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 reaches an all-time high: stablecoin supply has surpassed $30 billion, decoupling from the price cycle of the crypto market, showing that real payment and settlement demand continues to grow;
- Tokenization of real assets accelerates expansion: the scale of tokenized assets such as private credit and government bonds has reached $345 billion, a year-on-year increase of 110%.
Bernstein also noted that quantum computing poses a long-term potential risk, but the blockchain ecosystem is expected to have ample time to complete the post-quantum security transition.
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