Bitcoin’s recent rebound reflects a strengthening base of long-term holders as ETF inflows and corporate treasury buying reshape ownership dynamics, according to Bernstein.
The cryptocurrency has outperformed gold and major equity indexes over the past week, rising about 7% alongside increased geopolitical tensions.
“Maybe it takes a physical conflict to realise Bitcoin remains the most portable, digital and liquid asset with no counterparty risks,”
Bernstein said.
Analysts noted that roughly 60% of Bitcoin supply has remained inactive for more than a year, indicating growing dominance of long-term investors.
US spot Bitcoin ETFs recorded more than $2.1 billion in inflows over three weeks, while corporate buyers such as Strategy continued accumulating large holdings.
Strategy has added more than 66,000 BTC this year, with total reserves exceeding 738,000 Bitcoin worth around $54 billion.
The evolving ownership structure suggests reduced short-term selling pressure and a potentially more resilient market during periods of global uncertainty.
At the time of reporting, Bitcoin price was $75,146.60.