【伯恩斯坦：随着企业增持潮及ETF资金回流，或推动比特币价格创新高】金色财经报道，今年比特币价格叙事在“黄金”与“纳斯达克”相关性间波动，但伯恩斯坦分析师认为，短期关联性误导性强，散户抛售枯竭、企业增持潮及ETF资金回流才是关键指标，或推动“供应紧缩”致价格创新高。上周，Twenty One Capital宣布初始囤积4.2万枚BTC（约40亿美元），加入Strategy等企业竞争行列。目前约80家企业合计持有70万枚BTC，占总供应量3.4%。美国现货比特币ETF上周净流入30亿美元，创五个月新高，总持仓占比特币流通量5.5%，机构占比从去年9月的20%升至33%，其中48%为投资顾问持有，反映资产配置需求。结合企业持仓，机构化资本已控制9%的BTC供应量。若美政府落实战略储备，或引发主权国家竞相囤币。交易所BTC余额占比已从2023年底的16%降至13%，但部分资产仅转移至ETF托管方。 伯恩斯坦分析师估计，比特币将在2025年底达到约20万美元的周期峰值，到2029年底达到50万美元，到2033年底达到100万美元，期间会出现间歇性的一年熊市。
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