Bernstein says Bitcoin has "passed the bottom"…maintains $150,000 year-end target

Wall Street investment bank Bernstein said it believes Bitcoin (BTC) has recently formed a bottom, maintaining its year-end price target of $150,000. The market is seeing continued expectations that the uptrend could resume after a short-term pullback.

According to crypto-focused media outlet CoinDesk on the 24th, Bernstein said in a report that Bitcoin is highly likely to enter an uptrend after moving past its bottom.

Gautam Chhugani, an analyst at Bernstein, said, "Bitcoin has already formed a bottom and is shifting into an upward trend." He added, "We maintain the $150,000 year-end target."

The report interpreted the recent decline as a temporary correction rather than structural weakness. Analysts said, "The recent pullback is closer to a psychological reset than a deterioration of fundamentals."

It also presented a positive view on institutional demand. The report said, "ETF flows remain resilient, and expanding Bitcoin-related services across the banking sector are supporting demand."

Strategy, a Bitcoin treasury company, was also cited as a key variable. The report said, "Strategy is an asset that provides high-beta exposure to Bitcoin," adding that it "has robust liquidity and a proven financial structure."