Bernstein: BTC correction milder than in past bear markets

Bernstein noted in a report that while Bitcoin has fallen 54% from its peak of $125,000, this correction is significantly milder than the 75% to 90% declines seen in past bear markets. The firm added that Strategy has invested approximately $1.4 billion to purchase around 175,000 BTC this year, continuing its buying spree even as U.S. mining companies have been selling. Furthermore, Bernstein maintained its year-end price target of $150,000 for BTC, though it described the goal as ambitious following the recent downturn.