Bernstein: Bull run could last to 2027

Wall Street asset manager Bernstein reiterated its “long, exhausting” crypto bull market view, saying policy support in the U.S. and rising institutional adoption could extend gains into 2027. The firm sees Bitcoin (BTC) at $150,000–$200,000 within a year and expects the next leg to broaden to Ethereum (ETH), Solana (SOL) and DeFi tokens. Bernstein raised targets to $510 for Coinbase, $160 for Robinhood and $230 for Circle, citing July volumes (Robinhood crypto $16.8 billion, up 110% from June; Coinbase over $100 billion) and product expansion. It projects USDC supply to reach $99 billion in 2026 and $173 billion in 2027.