Bernstein: Bitcoin’s weakest bear market, $150K by 2026

Bernstein analysts call this Bitcoin downturn the weakest bear market, keep a $150,000 target for 2026, and highlight strong institutional support and market resilience.

Bernstein analysts have characterized the current Bitcoin downturn as the weakest bear market in the asset’s history. They emphasize that the recent price decline is driven by a crisis of confidence, not by systemic or fundamental weaknesses. The analysts maintain a bullish outlook, reiterating their $150,000 price target for Bitcoin by the end of 2026. Unlike previous bear markets, this phase has not witnessed major bankruptcies, hidden leverage, or systemic failures. Instead, they highlight strong institutional participation, the adoption of spot Bitcoin ETFs, and supportive sentiment from the current U.S. administration as key factors. Bernstein also notes that Bitcoin is acting more like a liquidity-sensitive risk asset than a safe haven, with investors reallocating funds amid macroeconomic volatility. They dismiss concerns about Bitcoin’s relevance in the age of AI, arguing that blockchain remains crucial, especially for personal AI assistants. The anticipated price surge is expected to boost demand for Layer 2 scalability solutions as transaction fees rise.