Bernstein analysis points out that despite Vice President Kamala Harris's recent expression of support for the cryptocurrency industry at fundraising events, the market remains confused about its policy uncertainty. In contrast, the cryptocurrency market sentiment after Trump's re-election may be stronger, as he explicitly promises to make the USA the 'capital of crypto' and supports DeFi, asset tokenization, and bitcoin mining. However, regardless of the election results, the expected inflow of ETF funds for bitcoin and ethereum, along with the Federal Reserve's loose monetary policy, are expected to continue driving the market higher.