Bitcoin's price has surpassed $123,000, with analysts expecting it to hit $200,000 by early 2026. The market is distinguished by substantial participation from financial institutions, with Bitcoin ETFs holding over $150 billion in assets. Bernstein analysts express strong confidence in blockchain and digital assets. They note on-ground adoption integrating with the financial system, supported by upcoming regulatory changes. Liquidations of Bitcoin shorts signal potential upward pressure on prices. New US laws are anticipated to clarify regulations and drive Bitcoin activity back into the American financial market.
'Our conviction in blockchain and digital assets has never been higher,' said Bernstein analysts. They highlight the significant growth in institutional investment and adoption.
'It is easy to dismiss the current cycle as yet another crypto bull market (another 2021!!), but we suspect we have crossed the 'belief' stage,' remarked analyst Gautam Chhugani.
Over $150 billion in assets are now parked in Bitcoin ETFs, with BlackRock's IBIT leading, holding more than $84 billion in BTC to enhance institutional adoption.
New US laws like the Clarity and GENIUS Acts are expected to provide clear guidelines for Bitcoin and crypto, promoting activity back to the US financial system.
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