Bitcoin rebounded this week to a high of almost two weeks. Foreign media reports that, despite a clear fall in the market from its previous highs, Bernstein analysts maintained the target price of $150,000 per bitcoin at the end of 2026 and described this judgement as more radical.

Bitcoin went up by 6% a week.

On Monday, bitcoin touched $63,900 and then traded around $63,836. In the past 24 hours, the increase was about 1.7 per cent, with the cumulative increase of more than 6 per cent in the last week. However, prices have fallen by almost half in historical highs of the previous period.

According to Bernstein, this round of adjustments, albeit modest, did not show signs of disorder in the market structure. The agency indicated that it remained concerned about whether there was a clearer warming signal for the Bitcoin flow and continued to look forward to long-term trends.

Regulatory expectations remain supporting factors

Bernstein mentioned that greater progress in encryption regulation in the United States in the course of the year could improve market liquidity and promote greater institutional involvement in encrypted and chained real-life assets.

Citing Polymarket data, the agency stated that the probability that Clarity Act would pass by the end of the year was still around 50 per cent. It was argued that, if the relevant legislation moved forward, the market's acceptance of the encrypted original assets and the version of the real-world asset chain could increase.

Strategy is still considered a net buyer.

Bernstein is also concerned about currency holding by the listed company Strategy. According to the Agency, although Strategy had recently sold approximately $216 million bitcoin to pay dividends and replenish the United States dollar reserve, it was unlikely that in the short term it would be possible to shift to continuous net sales as a result of financial pressure.

According to Bernstein, Strategy ' s current United States dollar reserves have exceeded $25.5 billion, covering approximately 17 months of dividends and interest expenditure. If the reserve cover period is reduced to less than 12 months, the Board will need to authorize further adjustments.

In this judgement, Bernstein argued that the passivity from Strategy was temporarily limited and that the company as a whole was more likely to remain a net buyer in the market.

Additional information:To reach the end-of-year target of $150,000, bitcoin would have to rise by about 135 per cent from the current level.