Bernstein: BTC is expected to surge to a new historical high, driven by multiple factors including corporate accumulation and the ETF boom

ChainCatcher news, according to The Block, the price of Bitcoin has shown correlations with gold or the Nasdaq index at different stages this year, but analysts from the brokerage firm Bernstein point out that the short-term correlation is misleading.

They believe that the more important indicators are the retail investors' sell-off fatigue, companies accelerating their accumulation of Bitcoin, and the inflow of funds into exchange-traded funds (ETFs) on trading platforms—these signs indicate that a "supply squeeze" is forming, which could drive Bitcoin to new highs.