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The Block·July 7, 2026
'Weakest bitcoin bear case in history': Bernstein reiterates $150,000 price target for 2026
Bullish target
Bernstein’s stance stands out because it still treats $150,000 as achievable in the current cycle, not just in a far-off scenario. The firm’s case appears to rely on the idea that Bitcoin can recover from weakness if ETF flows, corporate accumulation, and broader crypto sentiment improve.
Big move needed
That said, the timeline is aggressive. Bitcoin would need a major move from current levels, so the forecast reads more like a high-conviction upside case than a base case for most investors.
What to watch
The key question is whether the market gets enough fuel from new buyers before year-end. If momentum fades, the target becomes harder to justify; if flows strengthen, Bernstein’s thesis becomes more plausible.