The post Bitcoin Returns Above $70,000 As Bernstein Doubles Down On $150,000 End-2026 Price Target ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     The price of Bitcoin clawed back above the $70,000 level on Monday from its 15-month low of nearly $60,000 last week. The maiden crypto is up 11% from Friday’s low of $62,822 and is currently trading at $70,627, according to crypto data provider CoinGecko. Analysts at Wall Street firm Bernstein on Monday reiterated their $150,000 target for Bitcoin, noting that the recent downturn was triggered by a lack of investor confidence rather than structural stress. “Weakest Bitcoin Bear Case In History” In a note to investors, Bernstein analysts suggested that the recent Bitcoin correction represents the “weakest bear case” the asset has faced in its history and does not challenge the longer-term case for adoption or investment. “What we are experiencing is the weakest bitcoin bear case in its history,” the analysts led by Gautam Chhugani wrote. They said the recent downturn is driven by waning market confidence rather than structural problems with the network. “When all stars are aligned, [the] Bitcoin community manufactures a self-imposed crisis of confidence,” Bernstein stated. “Nothing blew up, no skeletons will unravel; [the] media is back again to write an obituary.” Advertisement   The company observed that the usual triggers seen in previous Bitcoin declines have not appeared, pointing out the absence of major collapses, undisclosed leverage, or broader systemic stress. Instead, the pundits highlighted increasing institutional support — citing a crypto-friendly U.S. president, robust spot Bitcoin ETF inflows, increased adoption by corporate treasuries, and sustained engagement from major asset managers — as signs that the current market cycle is fundamentally different from past downturns. “They just decide as the world is turning to AI, Bitcoin, and crypto are not interesting anymore. And not that Bitcoin investors were the best quantum physics experts, they decide quantum is a bigger…