According to ChainCatcher, analysts at research and brokerage firm Bernstein said that despite recent bearish sentiment, the structural adoption cycle remains intact, and if election sentiment turns to the Republican Party, cryptocurrency will become the main force of the "Trump trade."
“There may be a temporary pause until a large private banking platform whitelists a Bitcoin ETF. This is what will truly change the Bitcoin portfolio allocation landscape, not just underlying trading, and we expect these approvals to come through in Q3/Q4, until then the market will stagnate,” the analysts said. “With Bitcoin ETFs accounting for only 0.1-0.20% of the existing wealth advisor sample, there is room for both new advisor penetration and growing allocations (up to 2-3% of portfolios versus 0.1-0.2% currently).”
