Bernstein: Bitcoin shows strong resilience, institutional adoption will make Bitcoin more robust

Odaily News Broker Bernstein said Bitcoin has shown strong resilience, especially in the recent market chaos, with a 26% drop, which is smaller than past 50-70% crashes, indicating strong demand. Tariffs have hurt Bitcoin miners, but US alternatives and artificial intelligence opportunities have provided support. Bitcoin still behaves like a tech stock rather than gold, but it can act as a liquid risk asset at the close of the market. In the long run, Bitcoin is very much like a more volatile and liquid version of gold (about $2 trillion, compared to the $20 trillion gold market).
Institutional adoption via ETFs and corporate bonds (10% of supply) makes Bitcoin more robust, and despite Bitcoin’s 15% year-to-date decline, ETF inflows remain positive, with selling pressure coming primarily from short-term traders.