Bernstein reiterated his 2026 price target of $150,000 for Bitcoin, stating that the current market logic is the weakest bear market in history.

Research and brokerage firm Bernstein reiterated its long-term bullish view on Bitcoin in its latest research report, maintaining its year-end 2026 price target of $150,000. The analyst team pointed out that the current pullback has not shaken Bitcoin's core investment logic; rather, it constitutes the "weakest bear market argument" in its history. Bernstein stated that this round of price weakness stems more from fluctuations in market confidence than from systemic problems. The report states that the major failures, hidden leverage, or systemic collapses common in past bear markets have not occurred. Institutional participation, the adoption of Bitcoin spot ETFs, corporate treasury allocation, and the continued involvement of large asset management institutions all indicate that this cycle is significantly different from previous ones. (The Block)