Analyst claims this could be the last opportunity before the sovereign change of Bitcoin. The recent drop in Bitcoin may be creating a rare long-term entry opportunity, with Bernstein arguing that the current correction could be "the last opportunity before Bitcoin's elevation as a sovereign asset.

The firm's analyst, Gautam Chhugani, noted that the last two years marked an institutional phase for digital assets, driven by the rapid increase in Bitcoin exchange-traded funds (ETFs) and the growing demand from corporate treasuries.

Bitcoin ETFs reached $165 billion in assets in just 21 months — the fastest growth in ETF history — while Strategy alone purchased over $48 billion in Bitcoin over the last two years.

But despite that structural demand, Bitcoin has lagged behind gold over the past year, fueling doubts about the "digital gold" narrative. Chhugani pointed out that Bitcoin's market capitalization has fallen to approximately 4% of gold's, near the lower end of its historical range, while central banks have dramatically increased gold purchases, particularly in China and India.