$BTC Selloff the weakest bearish in history reaffirming 150k target

Bernstein has reaffirmed its $150,000 Bitcoin price target, calling the recent decline the “weakest bear market scenario in history,” even as some traders warn that Bitcoin could fall to $50,000. So who should investors believe?

Bernstein analysts said the latest Bitcoin sell-off reflects a “self-inflicted confidence crisis” rather than structural damage, describing it as the weakest bear-market setup the asset has ever seen. Based on this assessment, Bernstein reiterated its $150,000 BTC price target in its latest investor note.

As reported by The Block, the firm noted that none of the typical bear-market catalysts have emerged, pointing to the absence of major failures, hidden leverage, or systemic breakdowns.

Analysts added that Bitcoin continues to trade as a liquidity-sensitive risk asset rather than a mature safe haven, helping explain its underperformance versus gold amid tighter financial conditions.

Bernstein also dismissed concerns about the rise of artificial intelligence, arguing that blockchains and programmable wallets are well positioned for the emerging agent-based economy, which requires global financial rails.

In addition, Bernstein said potential quantum computing risks warrant preparation but are not unique to Bitcoin, noting that all critical digital systems will eventually migrate to quantum-resistant standards. Stronger corporate balance sheets and diversified miner revenues have also reduced the risk of forced selling.

Against this backdrop, Michael Saylor’s Strategy purchased an additional 1,142 BTC for roughly $90 million at an average price of $78,815, as the total value of the company’s Bitcoin holdings remains below its cost basis. Strategy’s total holdings now stand at 714,644 BTC, worth about $49.2 billion.

The purchases were funded through at-the-market sales of Strategy’s Class A common stock, with the company reporting that around $8 billion worth of MSTR shares remains available under the program.