The Bitcoin bull market is entering a new phase.

18.02.2025 14:02

The research firm Bernstein reported that the new phase of the Bitcoin (BTC) bull market has begun with multiple positive catalysts. The Trump administration's National Bitcoin Reserve plan and the efforts of the Crypto Task Force could trigger a new wave of bullish momentum in the cryptocurrency market.

Bernstein analysts emphasized that the spot Bitcoin ETF approvals and Trump's election victory have strengthened Bitcoin, which is now supported by new catalysts such as the National Bitcoin Reserve and the National Wealth Fund. These developments position Bitcoin as a strong competitor against gold.

National Bitcoin Reserve Plans Are Becoming Clearer

Analysts at Bernstein, led by Gautam Chhugani, noted that the Crypto Task Force, led by David Sacks, is focused on the establishment of a National Bitcoin Reserve. It is anticipated that this reserve could be financed by the Central Bank (Fed) or the Treasury.

Institutional interest continues to grow. The Abu Dhabi sovereign wealth fund Mubadala's $437 million investment in spot Bitcoin ETFs, along with Goldman Sachs and Barclays' position increases, are noteworthy. Strategy (formerly known as MicroStrategy) has raised its Bitcoin holdings to 478,740 BTC.

The SEC's cancellation of the SAB 121 regulation, which enabled banks to provide crypto custody services, is opening the doors to a new era in the sector. Bernstein expects a $60 billion inflow into spot Bitcoin ETFs by 2025.

The Bitcoin bull market is entering a new phase.

National Bitcoin Reserve Plans Are Becoming Clearer

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