Bernstein Says Bitcoin Rebound Reflects More Resilient Long-Term Holder Base

Bernstein said continued accumulation by U.S. spot Bitcoin ETFs and companies such as Strategy is shifting ownership from short-term capital to long-term allocators. About 60% of the supply has not moved in more than a year. This structure can reduce near-term selling pressure during periods of market stress, helping Bitcoin remain resilient even as conflict in the Middle East escalates. Bernstein said the shift is particularly important to Bitcoin’s development as a mature asset.

On March 16, 2026, Bernstein noted that Bitcoin had gained about 7% in a week and Ether about 9%, while U.S. spot ETFs had recorded more than $2.1 billion in net inflows over three consecutive weeks. Strategy had spent about $5.6 billion year to date to add 66,231 Bitcoin. On March 24, Bernstein went further, saying Bitcoin had bottomed at a time when it was trading at about $71,000, and maintained its year-end price target of $150,000.