Bitcoin market may pause, but Bernstein says bull run is just warming up
A Monday report from Bernstein urged investors to brace for more gains in Bitcoin and related equities. Is this the beginning of the real bull run?
Analysts Gautam Chhugani, Mahika Sapra, and Sanskar Chindalia explained that the rally started with the approval of U.S. Bitcoin ETFs and gained steam with the election of crypto-friendly Donald Trump. Now, institutional investors are keeping the momentum going.
“The confluence of adoption by banks, institutional investors, corporates, and eventually sovereigns (directly or via sovereign funds) is positioning Bitcoin as the clear challenger to gold,” the report stated.
Bitcoin has been on a tear since Bitcoin ETFs started trading a year ago. Following Trump’s election in November, the asset finally smashed through the long-awaited $100,000 mark. While prices have cooled slightly, Bitcoin is still up over 86% in the past year, trading at $95,313.
One of the most bullish signals? Abu Dhabi’s sovereign wealth fund has started buying Bitcoin through ETFs. Meanwhile, top institutions like Jane Street Group, Citadel Advisors, and Morgan Stanley have poured hundreds of millions of dollars into these funds. When Wall Street bigwigs start betting big, it’s usually a sign that the real action is just beginning.
Bernstein has previously predicted that Bitcoin could hit $200,000 by the end of 2025. If these institutions keep piling in, that forecast might not be far-fetched.
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