Bernstein retains ambitious 150K Bitcoin year-end target despite 54% drawdown

What was said

"Bernstein says Bitcoin's 54% draw down from its $125,000 peak is far milder than previous cycles 75 to 90% declines. The analyst note strategy has bought around 175 BTC 175,000 Bitcoin for $14 billion in 2026, continuing to buy as US miners turn into sellers. Bernstein also retains $150,000 year end target, now calling it ambitious after the drop."

Investment firm Bernstein maintains its $150,000 Bitcoin price target for year-end 2025 despite the recent 54% decline from the $125,000 peak. The firm notes this drawdown is significantly milder than the 75-90% declines seen in previous bear market cycles. Bernstein's analysis suggests strategy buyers have accumulated approximately 175,000 Bitcoin for $14 billion in 2026, continuing purchases even as U.S. miners become sellers. This ambitious target challenges the widely-held four-year cycle theory that predicts Bitcoin should bottom around $40,000 in October.