Wall Street firm Bernstein reiterates its $150,000 Bitcoin price target for 2026, arguing the current downturn reflects a confidence crisis, not structural damage.
Bernstein analysts are doubling down on their bullish Bitcoin call, reiterating a $150,000 year-end price target even as BTC trades near $67,000 following a brutal 50% drawdown from its October 2025 highs.
In a research note published over the weekend, Bernstein Managing Director Gautam Chhugani and Digital Assets Analyst Mahika Sapra called the current Bitcoin downturn the "weakest bear case in history." The firm maintained its high-conviction $150,000 price target for Bitcoin by the end of 2026.
The analysts argued that unlike the 2018 and 2022 crypto winters, which were triggered by massive infrastructure collapses, hidden leverage, and systemic fraud, the current pullback features none of those toxic elements. Instead, they characterized the market as de-leveraging in a "healthy, orderly fashion" with a clean market structure intact.
Bernstein highlighted a key data point: even during 20-30% price pullbacks, less than 5% of spot ETF holders have exited their positions. This suggests the new cohort of Bitcoin owners consists of long-term, institutional-grade investors rather than speculative day traders.
The call comes at a critical moment for market sentiment. Bitcoin has fallen more than 21% year-to-date and briefly touched $60,062 last week, its lowest level in roughly 16 months. ETF flows have turned negative in 2026, and Galaxy CEO Mike Novogratz declared the "age of speculation" may be ending.
Bernstein sees this differently. The firm argues that the institutional infrastructure built around Bitcoin, including ETFs, custody solutions, and regulatory frameworks, creates a structural floor that previous cycles lacked.
The $60,000 level has emerged as a critical support zone. A sustained hold above this range would validate Bernstein's thesis that the bear case is structurally weak. Spot ETF flow data in the coming weeks will be a key signal of whether institutional holders continue to sit tight or begin exiting at scale. The CLARITY Act timeline and any Federal Reserve policy shifts could also serve as catalysts for the next major move.
This is a developing story. Bernstein's conviction contrasts sharply with the bearish sentiment gripping crypto markets, setting up a high-stakes test of whether Wall Street's institutional thesis can withstand a prolonged downturn.
Wall Street giant Citigroup projects Bitcoin could reach $143,000 within 12 months, citing ETF demand and regulatory tailwinds as key catalysts.
The largest US bank is assessing spot and derivatives trading services as regulatory clarity enables traditional finance to deepen crypto involvement.
BTC stages dramatic 11% recovery after nearly breaching $60K, while market sentiment remains at extreme fear levels.
Aviso Legal: O conteúdo de notícias é apenas para fins informativos e não deve ser considerado aconselhamento financeiro. As condições de mercado podem mudar rapidamente. Sempre conduza sua própria pesquisa.
