Bernstein Sees Bitcoin Bottom, Maintains $150K Target

Wall Street firm Bernstein believes Bitcoin has likely reached its bottom and reaffirms its year-end price target of $150,000, citing resilient ETF flows and increasing corporate treasury demand. The analysts view the recent pullback as a temporary sentiment reset rather than a fundamental breakdown, noting Bitcoin's outperformance against gold during geopolitical stress. They also maintain a bullish outlook on MicroStrategy (MSTR), considering it a high-beta proxy for Bitcoin with a strong balance sheet, and highlight growing interest in its preferred equity instrument, STRC.