Bernstein: Despite market turbulence, institutional adoption of Bitcoin remains "on track."

ChainCatcher message, Bernstein released a report indicating that Bitcoin's performance in the third quarter will be severely affected by macroeconomic factors and political developments.

The report pointed out that BTC experienced a significant pullback over the weekend and continued its downward trend on Monday, due to "stock market panic" and broader economic concerns, rather than issues specific to cryptocurrencies.

Bernstein remains optimistic about Bitcoin's long-term prospects, stating: "We do not see any incremental negative impact on cryptocurrencies. The trend of institutional adoption of Bitcoin—ETF inflows and approvals from major securities firms/banks—is still on track."