BULLISH 📈 : Bernstein sees Bitcoin’s fundamentals intact, affirms $150,000 target

Despite a 44% decline in Bitcoin prices from all-time highs, Bernstein analysts argue the downturn doesn't resemble a traditional crypto bear market. They describe it as "the weakest Bitcoin bear case" due to maintained fundamentals and lack of systemic breakdowns.

Key Observations by Bernstein

The sell-off is attributed to loss of confidence, not structural issues, with a $150,000 price target for Bitcoin by end of 2026.
Absence of major institutional collapses or hidden leverage exposure, unlike previous crashes.
Supportive conditions include pro-Bitcoin US presidency, expanding spot Bitcoin ETFs, and adoption by corporate treasuries.

Resilience Among Holders and Miners

Investors' attention shifting towards AI seen as a focus change, not a threat to Bitcoin.
Concerns over quantum computing affecting Bitcoin considered overstated; such risks apply to all digital systems.
Major companies have structured balance sheets to withstand prolonged downturns without forced selling.
Miners have diversified into AI data centers, reducing reliance on Bitcoin mining and mitigating cost pressures.

As of this writing, Bitcoin is trading at $70,627, having recorded losses of 20% and 22% over the past fourteen and thirty days, respectively.