Bernstein: Bitcoin Bull Market Cycle Will Be Longer, Institutional Capital and Stablecoin Demand Drive Rally

Odaily Bernstein stated in a research report that the cryptocurrency market is currently showing signs of fundamental strengthening. Analysts pointed out that Bitcoin has formed a bottom near $60,000 and is now advancing toward the $80,000 mark. Institutional capital inflows, MicroStrategy's continued accumulation of Bitcoin through STRC products, and the deep integration of blockchain with financial infrastructure collectively create an asymmetric upside potential.

Bernstein emphasized that new distribution channels from Morgan Stanley's Bitcoin ETF and Charles Schwab's spot trading platform have broadened participation. Currently, approximately 60% of Bitcoin's supply has not moved in over a year, with institutional demand reinforcing its holding base. Additionally, stablecoin supply has reached a record high of $300 billion, with its payment and settlement demand decoupling from market sentiment. The tokenized real-world asset sector has grown 110% year-over-year to $345 billion. Although quantum computing poses a long-term risk, analysts believe the industry has ample time to undergo a secure transition.