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Bernstein, in a recent research report, suggests that the current slowdown in Bitcoin ETF inflows is merely a temporary pause rather than the start of a concerning trend. According to the report, investment platforms need time to establish the necessary compliance framework for selling Bitcoin ETF products.
The broker emphasizes that Bitcoin’s price has been relatively stable since the halving, lacking significant momentum in either direction. Analysts Gautam Chhugani and Mahika Sapra highlight the need for a period of adjustment before Bitcoin becomes a widely accepted recommendation for portfolio allocation and before platforms can effectively sell Bitcoin ETFs.
Despite the slowdown, Bernstein maintains its bullish outlook, reiterating its expectation of Bitcoin reaching a high of $150,000 by 2025. The broker attributes this confidence to the continued demand for ETFs, which reinforces their conviction in Bitcoin’s potential.
Furthermore, Bernstein notes that the Bitcoin mining cycle remains robust following the halving, with major players consolidating their market shares. The report also mentions that Bitcoin network fees have normalized at around 10% of miners’ revenues after a post-halving spike. Overall, while the halving event slowed the rate of Bitcoin supply growth, Bernstein remains optimistic about the cryptocurrency’s future trajectory.
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