Bernstein: Recent BTC drop is baseless, $150K year-end target stands

Bernstein has analyzed the recent Bitcoin downturn, describing it as one of the most unfounded in history and reaffirming its year-end price target of $150,000. According to the firm, the current weakness in BTC is a temporary crisis of confidence rather than a structural issue. Unlike past bear markets, Bernstein noted, there are no systemic flaws such as major corporate bankruptcies or the collapse of hidden leverage. The firm also pointed to a crypto-friendly U.S. administration and the introduction of spot crypto ETFs by large asset managers. Bernstein views BTC as a programmable, blockchain-based asset that will become the optimal financial infrastructure for an AI agent environment. Regarding recent concerns, the firm stated that the threat from quantum technology is a common challenge for all global digital systems. It also highlighted that mining companies are diversifying into AI data centers and that corporations holding crypto are structured to withstand long-term declines, making the possibility of forced liquidations very low. These factors support its decision to maintain the $150,000 price target set at the beginning of the year, Bernstein concluded.