Bernstein: Bitcoin Bull Cycle to Extend Longer, Institutional Capital and Stablecoin Demand Fuel Rally

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

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