Bernstein: Bitcoin shows strong resilience

Odaily News According to broker Bernstein, Bitcoin has shown strong resilience, especially after recently falling 26% during market turmoil, which is a smaller decline compared to past crashes of 50-70%, indicating strong demand. Tariffs have hurt Bitcoin mining companies, but opportunities in U.S. alternatives and artificial intelligence provide support. Bitcoin's movement still resembles tech stocks rather than gold, but at market close, Bitcoin can act as a liquidity risk asset. In the long run, Bitcoin is very much like a more volatile and liquid version of gold (around $2 trillion, while the gold market is $20 trillion). Institutional adoption through ETFs and corporate bonds (10% of supply) has made Bitcoin more stable, with ETF inflows remaining positive despite a 15% year-to-date drop and selling pressure coming mostly from short-term traders.