Bernstein: "The best days for BTC are yet to come"! Predicting a longer structural bull market, supported by three key factors

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Is the bull market just beginning? A new report from Wall Street investment bank Bernstein points out that as BTC strongly challenges $80,000, the cryptocurrency market is entering an era of "asymmetric upside" and a longer structural bull market. Analysts highlighted three major growth engines: steady inflows from institutional ETFs, the mega-whale Strategy aggressively accumulating over 818,000 BTC through innovative preferred shares, and the deep integration of stablecoins and RWA (Real World Assets) with traditional finance. (Previous coverage: Is there no chance for a massive BTC rally? Analysts reveal key indicators for reducing positions, bearish on next cycle expectations) (Background: Buying non-stop! Strategy adds another 3,273 BTC! Total holdings exceed 818,000 BTC) As the price of BTC steadily approaches the $80,000 mark, Wall Street's long-term outlook on the cryptocurrency market has become increasingly optimistic. In a new research report released to clients on Monday, the renowned research and brokerage firm Bernstein boldly asserted that the recent low of $60,000 has marked a clear bottom, and the fundamentals of the crypto market are becoming stronger than ever. The analyst team led by Gautam Chhugani wrote in the report: "The best days for crypto are ahead, which will be reflected in a higher and structurally longer crypto bull cycle." They pointed out that the market currently possesses excellent "asymmetric upside," and this confidence is primarily driven by three major forces. Bernstein noted that institutional demand driven by ETFs is significantly strengthening the holder base of BTC. Shockingly, as much as 60% of the total BTC supply has not moved in the past year, indicating that long-term holders have extremely firm conviction. Furthermore, access channels for institutional investors continue to widen. This includes Morgan Stanley's BTC ETF sales channels and the recently launched spot BTC and ETH trading platforms by Charles Schwab, both of which have opened new doors for the massive influx of traditional capital. The hoarding actions of corporate mega-whales are also key to driving the bull market. The report specifically named Strategy Inc., which currently holds as many as 818,334 BTC. Through its strategy of issuing STRC perpetual preferred products, the company has successfully created a high-yield, low-volatility investment vehicle that not only attracts yield-focused traditional investors but also provides a continuous stream of capital for the company to further acquire BTC. Regarding the practical application of blockchain, Bernstein emphasized the explosive growth of stablecoins and RWA: - Stablecoins decoupling from price: The adoption rate of stablecoins has gradually decoupled from the sentiment and price cycles of the crypto market. The total supply of stablecoins has hit a record high of over $300 billion, demonstrating the massive real-world demand for USD-backed payment settlements. - Rapid expansion of RWA: Private credit and US Treasuries are driving the $345 billion tokenized RWA sector to expand at an annual growth rate of 110%. Meanwhile, the activity of on-chain stocks and commodity trading on platforms like Hyperliquid is also significantly increasing. While bullish on the market outlook, analysts also objectively assessed potential tail risks. Regarding market concerns about "quantum computing" cracking blockchain cryptography, Bernstein acknowledged that this is a real long-term risk; however, they also expect that the entire blockchain ecosystem will have sufficient time for technical upgrades to smoothly transition to the post-quantum security era.

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Published:2026-04-27 14:09:11

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