Benchmark has initiated coverage of Asian food platform DDC, arguing the company has a \u0027clear runway\u0027 to build its bitcoin holdings to 5,000 BTC. The firm said it sees about 70% upside potential from current levels.

BlockBeats reported on April 27 that Coinglass data showed a sharp liquidation sweep across the crypto market after Bitcoin slid below $77,000. Total liquidations in the past hour reached $145 million, including $138 million from long positions and $7.56 million from short positions.

Bitcoin treasury firm @Strive said it has purchased an additional 789 $BTC for $61.43M, paying an average of $77,890 per coin. As of April 24, 2026, the company's strategic reserve has risen to 14,557 $BTC. The latest buy underscores ongoing institutional interest in $ASST and $SATA as corporate investors expand their exposure to digital assets.

Bitcoin has surrendered yesterday's advance, falling back below $77,000.

Bernstein said in a research note that crypto market fundamentals are strengthening, with Bitcoin appearing to have established a floor around $60,000 and trending toward $80,000, according to Odaily Planet Daily. Analysts pointed to continued institutional inflows, MicroStrategy's ongoing Bitcoin purchases via its STRC product, and the deeper embedding of blockchain into financial infrastructure as drivers of "asymmetric" upside potential. Bernstein also highlighted expanding access through new distribution channels, including Morgan Stanley's Bitcoin ETF offering and Charles Schwab's spot trading platform. The note added that roughly 60% of Bitcoin supply has not moved over the past year, reinforcing a long-term holder base as institutional demand builds. Stablecoin supply has climbed to a record $300 billion, with payment and settlement use increasingly decoupled from market sentiment. Real-world asset tokenization has risen 110% year over year to $345 billion. While quantum computing remains a long-term risk, Bernstein said the industry should have sufficient time to implement a secure transition.

Bernstein analysts said in a recent report that crypto market fundamentals continue to strengthen, arguing that Bitcoin's pullback to around $60,000 marked a clear bottom. With prices now moving toward $80,000 on rising institutional demand, they see conditions forming for a longer-term, structural bull run. Analyst Gautam Chhugani pointed to several drivers: • Institutional access is broadening: Morgan Stanley's Bitcoin ETF and Charles Schwab's spot Bitcoin/Ethereum trading platform have launched. Roughly 60% of Bitcoin supply has not moved in more than a year, suggesting a more stable holder base. • Strategic accumulation: The STRC perpetual preferred stock product has drawn income-focused investors, with current holdings totaling 818,334 Bitcoin. • Stablecoin demand at record levels: Total stablecoin supply has exceeded $300 billion and appears increasingly decoupled from crypto market cycles, reflecting sustained growth in real-world payment and settlement use. • Tokenized real-world assets are scaling faster: The total value of tokenized assets, including private credit and government bonds, has reached $345 billion, up 110% year over year. Bernstein added that quantum computing remains a long-term risk factor, but expects the blockchain ecosystem will have sufficient time to migrate toward post-quantum security.

Bernstein analysts said in a new report cited by The Block that crypto market fundamentals are still improving, with Bitcoin's recent dip to $60,000 marking a clear floor. With prices now nearing $80,000 on the back of institutional buying, the firm expects the market to remain in a longer-lasting, structural bull cycle. Bernstein analyst Gautam Chhugani pointed to several catalysts: • Broader institutional access: Morgan Stanley's launch of a Bitcoin ETF and Charles Schwab's spot Bitcoin/ETH trading platform. The report also notes that about 60% of Bitcoin supply has not moved for more than a year, suggesting a more stable holder base. • Strategy's continued accumulation: The company's STRC perpetual preferred stock has drawn income-focused investors, with Bitcoin holdings now at 818,334. • Stablecoin demand at record levels: Total stablecoin supply has topped $300 billion, increasingly decoupled from crypto market cycles and reflecting sustained growth in real-world payments and settlement demand. • Accelerating tokenization of real-world assets: The total value of tokenized assets, including private credit and government bonds, has reached $345 billion, up 110% year over year. The report adds that quantum computing remains a long-term risk, but expects the blockchain ecosystem to have enough time to migrate toward post-quantum security.

Bitcoin (BTC) at $78,127.13 is up about 14% this month, marking its strongest monthly gain in a year. Many market watchers see a move above $80,000—a level last reached in January—as increasingly plausible. The signal from the perpetual futures market is moving the other way. Funding rates, which are typically positive when traders are positioned for higher prices and negative when positioning skews lower, have slipped below zero. The divergence has prompted debate over whether traders are fading the rally. 10x Research founder Markus Thielen, who called for a run toward $125,000 back in early 2023, argues the negative funding print reflects institutional hedging rather than deteriorating sentiment. In his view, the market is undergoing a structural shift as sophisticated players take a larger role. Perpetual futures track bitcoin’s price without an expiry date. Exchanges use the funding rate—a periodic payment between long and short positions—to keep perpetual prices aligned with spot. When perpetuals trade above spot, longs pay shorts and funding is positive. When they trade below spot, shorts pay longs and funding turns negative. Funding has stayed persistently negative in recent weeks, with perpetuals trading at a discount to spot. According to 10x Research, bitcoin’s 30-day average funding rate is minus 5%, versus a historical norm of plus 8%. That 13-percentage-point gap has widened even as bitcoin rises. "The Bitcoin funding rate is sending an unusual signal," Thielen wrote in a Saturday note to clients. "At minus 5% on a 30-day average against a historical norm of plus 8%, and turning more negative even as Bitcoin rallies 15% and the options skew recovers, something structural is happening in the futures market, not a sentiment shift." Thielen cited three drivers of short pressure. First, crypto hedge fund redemptions. He said crypto hedge funds have lagged bitcoin by 140% over five years, prompting investor outflows. During redemption notice periods, funds may short bitcoin futures to neutralize market exposure while waiting for cash to settle back to bank or trading accounts—a mechanical risk-management step rather than a bearish call. Second, two institutional strategies that pair short bitcoin futures with trades linked to Strategy (MSTR), the largest publicly traded bitcoin treasury company. One trade seeks to benefit if MSTR shares outperform bitcoin while using short futures as a hedge. Another targets the 11% yield on Strategy’s preferred shares (STRC) and shorts bitcoin futures to strip out crypto price volatility. Strategy raised $3.5 billion in April, scaling both trades at the same time. Third, miners increasingly repositioning toward artificial intelligence. Miners such as Hut 8, up 48% since April 6, are cutting bitcoin production and expanding AI computing exposure. Thielen said funds buying these equities may short bitcoin futures to reduce crypto correlation—again framing the activity as hedging, not an outright bearish bet on bitcoin.

Bitcoin exchange-traded funds attracted $824 million in inflows, with BlackRock's iShares Bitcoin Trust (IBIT) accounting for the largest share of weekly crypto fund demand.