Bernstein analysts remain bullish on Bitcoin’s price, maintaining their year-end optimistic outlook. The analysts have confirmed that Bitcoin has officially reached its market bottom, with its price at around $60,000, the lowest since its all-time high above $126,000 in October 2026. If this is true, it could mean the prolonged BTC bear market has ended, and the market is heading upwards from here.
Bernstein Confirms Bitcoin Price Bottom And Next Target
In a Tuesday note to clients, Bernstein analysts doubled down on their year-end price target of $150,000 for Bitcoin. Their reiteration of this bullish outlook comes as the world’s largest cryptocurrency faces major headwinds in its ongoing bear market.
Recently, the Bitcoin price dropped below $70,000 once again amid increased geopolitical uncertainty and state-level selling pressure. Market volatility resurfaced after President Donald Trump pushed to end the US-Iran war within weeks, and the Bhutan government sold more than 519 BTC for approximately $36.7 million.
Despite these bearish developments pushing the price lower, Bernstein analysts believe that Bitcoin’s move from here on out could be a slow but steady recovery, followed by a rebound toward a new all-time high. This isn’t the first time they have made such a prediction. Earlier in January, they stated that BTC had hit a price floor at $80,000 and might be on its way to a $150,000 target.
Importantly, the analysts confirmed again in their recent note that the Bitcoin price has officially reached its market bottom this cycle. This comes after the cryptocurrency plunged from $90,000 to $60,000 in early February, marking its lowest level since its cycle top last year. This price floor is also approximately 47% below the cryptocurrency’s all-time high levels.
Major factors had fueled this crash, including the hawkish FED Chair nomination of Kevin Warsh by Trump in January 2026, which triggered a risk-off sell-off in the crypto market. Moreover, at the time, the market had recorded massive outflows in Bitcoin Exchange-Traded Funds (ETFs) worth billions of dollars. Heightened tensions in the Middle East, as well as the oil shock, had also fueled BTC’s decline to this claimed $60,000 price bottom.
Why They Believe BTC Could Hit $150,000 This Year
Three major bullish catalysts are driving Bernstein’s optimistic Bitcoin prediction this cycle. The first is the continuous corporate accumulation by the business intelligence company and BTC treasury Strategy (MSTR). Notably, Strategy has continued to buy Bitcoin despite its ongoing volatility and declining price action. The firm now holds 3.6% of Bitcoin’s total supply, valued at roughly $53.5 billion, after its latest purchase of 1,031 BTC for $76.6 million this March.
Another major reason Bernstein believes BTC could hit a new ATH this year is attributed to its ETF. Analysts at the firm suggest that ETF inflows could remain strong despite market volatility, thereby continuing to increase demand for BTC. Over the past week, Bitcoin ETFs have already attracted significant inflows, driven largely by wealth managers, pension funds, sovereign entities, and other major institutional investors.
The final reason mentioned is the strong conviction of long-term BTC holders. Notably, 60% of Bitcoin’s total supply has been held by inactive wallets for more than 1 year. This behavior reflects long-term holding as investors continue to see the cryptocurrency as a strategic allocation and a store of value.
