On April 28, according to The Block, Bitcoin's price trend has shown correlation with gold or the Nasdaq index at different stages this year. However, analysts from research and brokerage firm Bernstein pointed out that short-term correlation is misleading. They believe that factors such as retail investor selling fatigue, enterprises accelerating Bitcoin accumulation, and the reflux of exchange-traded fund (ETF) funds are more important indicators - these signs suggest that a "supply squeeze" is forming, which could potentially drive Bitcoin to a new high.
Bernstein: Bitcoin is expected to hit a record high, with multiple factors such as corporate coin hoarding and ETF craze working together
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