Bernstein: The cryptocurrency stock market and retail trading sentiment show extremely high risk appetite

ChainCatcher news, as Bitcoin attempts to break through the resistance level of $70,000 again, reaching a new all-time high, analysts at research and brokerage firm Bernstein have stated that the inflow of Bitcoin exchange-traded funds, the crypto stock market, and retail trading sentiment indicate a very high risk appetite.

Bernstein analyst Gautam Chhugani wrote that as the likelihood of Donald Trump, who openly supports cryptocurrencies, winning the U.S. presidential election continues to rise, and his competitor Kamala Harris has also made more optimistic and clearer statements on cryptocurrency policy, the market seems less concerned about downside risks and finds Bitcoin attractive.