Bernstein Calls "Bitcoin Has Bottomed"! Reiterates Year-End Price Target of 150,000: This Is the Weakest Bear Market in History

Wall Street’s well-known investment bank Bernstein released a report on Tuesday (24th) confirming: Bitcoin has bottomed out! Despite a 45% correction driven by high interest rates and geopolitical volatility, Bernstein remains firmly committed to a year-end price forecast of $150,000. The report notes that the market currently lacks the “systemic pressure” common in past bear markets, and institutional demand along with financing tools from Bitcoin treasury company Strategy (MSTR) are providing strong support.
(Background: Institutions now control 14% of Bitcoin supply! Bernstein praises MicroStrategy as the “last Bitcoin central bank,” with BTC’s capital base transforming)
(Additional context: Bernstein: The four-year Bitcoin cycle has ended! The institutional era begins an “extended bull market,” with BTC reaching $200,000 by 2027)

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• Reaffirm $150,000 target: the correction is just a “sentiment reset”
• Strategy (MSTR) rated “Outperform,” target price $450
• Institutional demand is the core of the rebound

After multiple shocks in the crypto market, Wall Street investment bank Bernstein offers an extremely optimistic outlook. In a client briefing released Tuesday, a team led by analyst Gautam Chhugani clearly states: “We believe Bitcoin has found its bottom and is now ready to push higher.”

Reaffirm $150,000 target: the correction is just a “sentiment reset”

After reaching a record high at the end of 2025, Bitcoin fell 45% due to multiple pressures including high interest rates, Middle East geopolitical risks, and ETF capital outflows. Despite the significant decline, Bernstein emphasizes that this is very different from past crypto winter crashes:

• No systemic pressure: This correction did not involve the collapse of institutions or systemic financial risks seen previously.
• Leverage unwinding: The decline mainly resulted from long-term holders taking profits and forced liquidation of leveraged positions.
• Safe-haven resilience: Since the Iran conflict erupted at the end of February, Bitcoin’s performance has outperformed gold by 25%, highlighting its unique appeal as an “uncensorable asset.”

Strategy (MSTR) rated “Outperform,” target price $450

Beyond Bitcoin itself, Bernstein remains highly optimistic about Strategy, which holds about 3.6% of the global supply (worth approximately $53.5 billion), viewing it as a high-beta proxy for Bitcoin:

Analysts specifically highlight Strategy’s preferred stock STRC. This perpetual structure reduces equity dilution and provides long-term capital support. Its low volatility and high dividend yield are driving rapid demand for STRC in the market.

Institutional demand is the core of the rebound

Looking ahead, Bernstein believes institutional demand remains the key driver of prices. Besides resilient ETF capital flows, more banks are beginning to offer Bitcoin-related financial services, providing the necessary liquidity to push Bitcoin toward $150,000.

“Bitcoin has already reached its trough and is now heading toward higher targets.”