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Bernstein: Bitcoin is expected to make a strong push to reach a historic high, driven by multiple factors including corporate coin hoarding and the ETF craze.
BlockBeats news, on April 28, according to The Block, Bitcoin price movement has shown correlations with gold or the Nasdaq index at different stages this year, but analysts from the research and brokerage firm Bernstein pointed out that the short-term correlation can be misleading. They believe that the retail investor selling fatigue, corporate acceleration in accumulating Bitcoin, and the fund inflow from trading platform ETFs are more important indicators—these signs suggest that a “supply crunch” is forming, which could drive Bitcoin to new highs.