Bitcoin Has Likely Bottomed, Still Targets $150,000 By Year’s End: Bernstein

Bitcoin may have likely reached its lowest price and could rebound from here to higher prices, according to a recent analysis from Bernstein.

The Wall Street brokerage firm’s senior analyst on digital assets, Quantum Chhugani, said this in a note to clients on Tuesday. He expects Bitcoin to recover strongly from here, targeting higher prices.

Key Points

• Bitcoin may have likely reached its lowest price and could rebound from here to higher prices, according to a recent analysis from Bernstein.
• Bernstein still maintained its $150,000 price target for Bitcoin before the end of this year, reflecting 113.4% growth from the current price.
• Bernstein noted that resilient ETF inflows and corporate demand for BTC would drive this price expansion.
• The brokerage firm called Strategy a high-beta Bitcoin play, backed by its strong balance sheet.

Bitcoin May Have Bottomed

Bitcoin trades around $70,290 at the time of writing, down a little over 1% in the past 24 hours. It reclaimed the $70,000 price level and rose higher to $71,800 on Monday, following reports that Donald Trump has ordered a 5-day ceasefire in attacks on Iran.

While the current market condition remains unstable, Bernstein’s Chhugani noted that Bitcoin may have bottomed. In the note, he noted that BTC has “found its trough,” and its subsequent direction is northward.

Notably, if this proves true, it will mean that the low of around $60,130 on February 6 would be the lowest price in the ongoing corrective phase. Additionally, this will mean Bitcoin only experienced a 52% correction, one of the lowest from previous ATHs in history during bear markets.

Bitcoin Now Targets $150,000

Interestingly, Bernstein still maintained its $150,000 price target for Bitcoin before the end of this year. With the projection that the bearish wave is nearing its end, the firm expects the cryptocurrency to surge past its current all-time high of $126,200 to the unprecedented price level, reflecting 113.4% growth from the current price.

On catalysts, the brokerage firm cited institutional demand. Bernstein noted that resilient ETF inflows and corporate demand for BTC would drive this price expansion.

For context, yesterday, the Bitcoin spot ETFs recorded a net inflow of $167.23 million, per SosoValue. While it was their first inflow in four days, the funds have brought in a staggering $1.60 billion since the start of March, suggesting renewed traction after months of outflow.

Recently, Australia’s pension giant Hostplus announced plans to offer clients Bitcoin exposure, adding to a broader corporate clamor for exposure to the pioneering cryptocurrency. Banking giant Morgan Stanley is also close to launching a US Bitcoin spot ETF, a move that reflects the asset’s growing appeal even to giants in the financial institution.

Strategy as Bitcoin-Beta Play

Bernstein further lauded the resilience of Michael Saylor’s Strategy in accumulating Bitcoin despite the dip. Yesterday, the business intelligence company announced it bought $76.6 million worth of BTC last week, pushing its stash to 762,099 BTC. The $53.5 billion bag now represents 3.6% of the total Bitcoin supply.

Chhugani called Strategy a high-beta Bitcoin play, backed by its strong balance sheet. Despite MSTR falling 50% from its ATH, he sees it recovering, as he sets $450 price target.

Not Everyone Believes Bitcoin Has Bottomed

Bernstein’s bottoming call, however, is not in alignment with the analysis from other market watchers. Recently, top chartist Ali Martinez noted that while the future holds bullish prospects for Bitcoin if it follows history, it could also see lower prices.

According to him, BTC could drop as low as $41,500 and could reach that bottom by mid-October 2026. However, he expects an accumulation and expansion phase to follow this bottom.

Standard Chartered Bank also believes BTC would drop further to $50,000. The firm has repeatedly reiterated that the asset would revisit this price mark before moving higher, citing weak economic environments and a lack of demand. The bank also reviewed its 2026 forecast from $150,000 to $100,000.