Bernstein: Crypto Stock Market and Retail Trading Sentiment Show Extremely High Risk Appetite

As bitcoin once again attempts to break through the $70,000 resistance level to a new all-time high, analysts at research and brokerage firm Bernstein said that inflows of bitcoin exchange-traded funds, the crypto stock market, and retail trading sentiment suggest an extremely high risk appetite.
Bernstein analyst Gautam Chhugani wrote that as Bitcoin and other risk assets see a rising likelihood of openly pro-cryptocurrency Donald Trump winning the US Presidential Election, and its rival Kamala Harris has issued a more optimistic and clear cryptocurrency policy statement, the market seems less concerned about downside risks and finds Bitcoin attractive.