TechFlow News, April 27: According to a report by The Block, Bernstein analysts stated in their latest report that the fundamental outlook for the crypto market is steadily improving. Bitcoin’s recent low of $60,000 has formed a clear bottom, and with the current price approaching $80,000, a longer-term structural bull market is likely, driven by institutional demand.
Bernstein analyst Gautam Chhugani highlighted the following key drivers:
- Continued expansion of institutional channels: Morgan Stanley’s Bitcoin ETF and Charles Schwab’s spot Bitcoin/Ethereum trading platform have both recently launched; approximately 60% of Bitcoin supply has remained unmoved for over one year, indicating increasing stability in holder composition;
- Ongoing accumulation by Strategy: Its STRC perpetual preferred stock product has attracted yield-seeking investors, with current holdings reaching 818,334 BTC;
- Stablecoin demand hits an all-time high: Stablecoin supply has surpassed $300 billion—decoupled from crypto market price cycles—reflecting sustained growth in real-world payment and settlement demand;
- Tokenized real-world assets accelerate expansion: Tokenized private credit and U.S. Treasury assets now total $345 billion, representing a 110% year-on-year increase.
Bernstein also noted that quantum computing poses a long-term potential risk, but expects the blockchain ecosystem to have ample time to complete its transition to post-quantum security.
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