#$BTC # After Bitcoin reached a new record above $123,000 on Monday, analysts at Bernstein suggested bullish long-term outlooks for the digital asset, forecasting an upcoming period of transformation for the entire crypto sector.
In a note to their clients, Bernstein analysts, led by Gautam Chhugani, describe the current cycle as a "long and exhausting crypto bull market," driven not by retail speculation, but by deepening institutional adoption.
Unlike previous market booms, this cycle is characterized by regulatory clarity, government alignment, and a maturing ecosystem of blockchain-based fi