The in bitcoin (BTC) exchange-traded fund (ETF) inflows is a short-term pause before ETFs become more integrated with private bank platforms, wealth advisors and more brokerage platforms, and not the beginning of a worrying trend, broker Bernstein said in a research report on Monday.
Bernstein says its expectation of a bitcoin cycle high by 2025 of $150,000 remains the same, as the 'unprecedented ETF demand inflows have further reinforced our conviction.'
The bitcoin mining cycle remains healthy after the halving, with the leading players continuing to consolidate market shares, the report said.
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