Bitcoin BTC Seen at Bottom, Bernstein Targets $150K

Published: 2026-03-26 15:38:09 |

Bernstein analysts say Bitcoin (BTC) has likely bottomed after a sharp selloff that pushed the market low near $60,000, far below the prior cycle peak above $126,000. In a Tuesday client note, they reiterated a year-end BTC target of $150,000, framing the prolonged drawdown as a sentiment reset rather than a systemic break. The latest update connects the selloff to renewed macro and geopolitical pressure, including risk-off conditions tied to a hawkish Fed nomination theme and ETF outflows during the decline. The article also points to state-level selling and geopolitical headlines as volatility triggers, including claims about Trump’s push to end the US–Iran war within weeks and Bhutan selling over 519 BTC for about $36.7M. For traders, the case for BTC stabilization near $60k rests on three catalysts: (1) continued corporate accumulation via Strategy (Michael Saylor’s BTC treasury strategy/MSTR), reported at ~3.6% of total BTC supply and additional March buys; (2) sustained BTC ETF demand, with inflows described as coming from wealth managers, pension funds, sovereign entities and other institutions; and (3) strong long-term holder behavior, with about 60% of BTC supply inactive in wallets for over a year. If these ETF flow and spot-demand signals persist, BTC upside could accelerate toward Bernstein’s $150,000 year-end scenario.

Bullish

The report frames BTC near $60k as an inflection point and supports upside via concrete demand channels: sustained BTC ETF inflows and continued corporate spot accumulation by Strategy. It also highlights long-term holder inactivity as a stabilizing factor. Although macro risk-off and geopolitical headlines are acknowledged as sources of volatility (including ETF outflows and state-level selling), the direction of the thesis is that downside is likely limited if bottoming signals hold. Netting the catalysts against the cited headwinds, the price outlook for BTC skews bullish, especially for traders positioned around a potential trend reversal.