Bernstein is sticking to its big Bitcoin call, even after the recent sell-off.
In a new note to investors, the firm said the downturn looks more like a “crisis of confidence” than a structural problem in the crypto market. No major failures, no broken infrastructure, and only modest ETF outflows despite a roughly 50% drop from the highs.
That’s why the analysts are keeping their $150,000 Bitcoin target for 2026.
Interestingly, they also pushed back on some of the popular bear arguments, from AI stealing capital to quantum computing threatening the network. Their view is that these risks are either overblown or still years away from becoming relevant.
At the same time, institutional investors are reportedly seeing the pullback as an opportunity to enter at levels they previously missed, even while short-term traders remain cautious.
It’s another reminder of how divided the market is right now: long-term adoption narratives versus near-term macro pressure.
