54% Bitcoin Shake-up Doesn’t Deter Bernstein: $150,000 Still on the Table

Bernstein continues to maintain its $150,000 year-end target for Bitcoin (BTC) despite the sharp 54% price correction.

Although the cryptocurrency market has experienced a significant pullback recently, the analysis firm Bernstein remains optimistic about Bitcoin. Unlike the massive drops of 75% to 90% seen in previous cycles, this time the correction remained at the 54% level, which is considered a sign of market maturation. Analysts point out that the Bitcoin (BTC) price is showing signs of recovery, finding support around the $60,000 level.

According to the Bernstein report, while outflows from spot Bitcoin ETFs have negatively affected investor sentiment, the data paints a calmer picture. An outflow of $5.5 billion within a massive asset base of $74 billion indicates that market liquidity remains strong. In particular, institutional purchases are creating a buffer zone in the market by offsetting selling pressure from miners.

Institutional Buys and Miner Transformation

Purchases by giants like MicroStrategy continue to play a decisive role in the market. As the company’s Bitcoin (BTC) holdings reach 847,363 units, analysts emphasize that such institutional structures are unlikely to engage in forced selling. On the other hand, U.S. miners’ shift toward AI data centers and their withdrawal from mining is causing hashrate—the total processing power of the network—to be distributed globally.

The process of tokenization—the digitalization of real-world assets—in the market has also reached a record level of $52 billion. While Bernstein admits that the $150,000 target is ambitious under current conditions, it believes these levels could be reached by the end of the cycle. Much like the vibrant and dynamic structure in the visual, the continuation of institutional interest is seen as the greatest source of hope for investors looking for “signs of life” in the market.