Bitcoin may have finally found a bottom after months of decline, according to Bernstein analysts. The cryptocurrency has been trading in a tight range between about $65,000 and $75,000 over the past few weeks and was below $70,000 on Tuesday. After falling roughly 20% this year and dropping from its $126,000 peak in October, many investors have been hesitant to call a turning point. That said, Bernstein believes the worst is likely behind for Bitcoin and continues to target $150,000 by the end of 2026.
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Interestingly, Bernstein’s view is being driven by a shift in key demand trends. For instance, Bitcoin ETFs, which saw money flowing out earlier this year, are now seeing inflows again and currently hold around 6.1% of the total supply. On top of that, Strategy (MSTR) has been a major buyer and now holds roughly 3.6% of all Bitcoin. This steady accumulation is helping support prices, and Bernstein sees Strategy as a high-upside way to gain exposure. Indeed, Bernstein’s five-star-rated Gautam Chhugani recently maintained a Buy rating with a $450 price target.
In addition, Bitcoin has actually outperformed some traditional assets during recent geopolitical tensions, rising more than 6% since the U.S.-Israel conflict with Iran began, while gold has fallen by about 15%. It also moved higher alongside stocks after President Trump pointed to possible talks with Iran. Still, not all analysts are convinced that this is a confirmed bottom, with some arguing that the recent bounce lacks a strong follow-through.
Is Bitcoin a Good Buy?
Using TipRanks’ technical analysis tool, the indicators seem to point to a negative outlook for Bitcoin. Indeed, the summary section pictured below shows that five indicators are Bullish, compared to four Neutral and 13 Bearish indicators.
