Odaily Planet Daily News Brokerage Bernstein said that Bitcoin has shown strong resilience, especially in the recent market chaos, with a 26% drop, which is smaller than the past 50-70% crash, indicating strong demand. Tariffs have hurt Bitcoin mining companies, but US alternatives and artificial intelligence opportunities have provided support. Bitcoin still behaves like a technology stock rather than gold, but at the close of the market, Bitcoin can act as a liquid risk asset. In the long run, Bitcoin is very much like a more volatile and liquid version of gold (about $2 trillion, while the gold market is $20 trillion).
Institutional adoption through ETFs and corporate bonds (10% of the supply) makes Bitcoin more robust, and although Bitcoin has fallen 15% year-to-date, ETF inflows remain positive, and selling pressure comes mainly from short-term traders.