Experts at the investment firm Bernstein have linked the first cryptocurrency’s recent strength not only to short-term factors, but also to deep shifts in asset allocation. According to their observations, the market is increasingly controlled by long-term investors, while the role of short-term speculators is gradually declining. Last week, Bitcoin rose by around 7% to $73,520, and the ether rose by 9%, peaking above $2,000, with cryptocurrencies outperforming gold and stock indices even amid geopolitical tensions.

Analysts cite the steady inflow of capital into spot Bitcoin ETFs and stable demand from corporate investors as key growth drivers. Strategy stands out for systematically increasing its Bitcoin reserves, boosting long-term demand and reducing the available supply. According to Bernstein, about 60% of all existing Bitcoin has not moved for more than a year - an indication of high asset concentration among long-term holders, which reduces vendor pressure and makes the market more resilient to sharp swings.

In the face of geopolitical instability, experts emphasize, Bitcoin exhibits its key properties: it remains a liquid cross-border asset that requires no intermediaries.