Bernstein: Cryptocurrency could be the new focus of the 'Trump trade'

Odaily Odaily News According to a report by Gautam Chhugani and Mahika Sapra, analysts at research brokerage firm Bernstein, despite bearish sentiment in the market in the short term, the structural adoption cycle remains unchanged. They predict that if the US election sentiment shifts further towards the country's Republican Party, cryptocurrency may become a new focus of the "Trump Trade", attracting more investors to the market. The report pointed out that the recent outflow of funds from Bitcoin spot ETFs and the potential disappointment in the prospects for the issuance of Ethereum spot ETFs have become two main arguments for the market's bearishness. However, analysts believe that the launch of Bitcoin ETFs has been a huge success, bringing increasing liquidity to the market. Despite the current outflow of funds for six consecutive trading days, analysts are still optimistic about its long-term potential and expect the market to usher in new growth points as more wealth advisors penetrate and configurations grow. (TheBlock)