Bernstein Reaffirms $150K Year-End Bitcoin Target Despite 54% Drawdown

According to Bernstein, the research firm reaffirmed its $150,000 year-end Bitcoin price target on July 6, noting the current 54% market drawdown is significantly shallower than previous cycles. Bernstein argued that Bitcoin's correction remains well below the 75% to 90% declines that marked prior bear markets, reflecting a more mature institutional market structure.

The firm also challenged bearish sentiment around institutional demand, projecting approximately $10 billion in combined inflows from corporate Bitcoin treasuries and U.S. spot Bitcoin ETFs in 2026, down from $60 billion in 2025.