Bernstein Sees Bitcoin Reaching $150,000 by Year-End as Market Transforms

Bitcoin entered a bear market after approaching its record high of $125,000 in October 2025 and has since fallen about 54%. Compared with the 75%–90% declines commonly seen at the end of previous cycles, investment bank Bernstein views the correction as relatively mild. It says deeper institutional participation and a gradually maturing market structure may explain the difference, while miners’ shift toward AI data centers and growth in real-world assets, or RWA, have become key areas to watch.

A Bernstein team led by analyst Gautam Chhugani reiterated its year-end Bitcoin price target of $150,000 on July 6, 2026, while acknowledging that the target was optimistic. Bitcoin rebounded to about $63,000 after briefly falling as low as $60,000. The same report said RWA assets had risen to a record of about $52 billion, while US-listed miners were accelerating the redeployment of power and capital into AI data centers.