Bernstein analysts have reaffirmed their year-end Bitcoin price target of $150,000, even as the cryptocurrency trades near $63,900 after a two-week high.
The projection comes amid a challenging year marked by regulatory and macroeconomic pressures.
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Bitcoin has fallen roughly 54% from its all-time high of about $125,000 in October, with a 20% plunge in June driven by Federal Reserve interest rate hike concerns.
Despite this, the investment bank remains confident in the digital asset's long-term prospects.
Corporate Treasury Buying Offsets Outflows
According to Bernstein, corporate treasury giant Strategy, led by Michael Saylor, has acted as a critical stabilizing mechanism by absorbing market sell-offs.
This comes as Bitcoin spot ETFs faced $5.5 billion in withdrawals this year.
Gautam Chhugani, an analyst at Bernstein, noted in a Monday brief that the digital asset treasury giant "continues to be a net buyer in the market," helping offset capital outflows.
He explained that inflows from major treasuries and ETFs reached $10 billion in 2026, compared to $60 billion last year.
"It is unclear if we are completely out of the woods, but this crypto bear market has been milder than the previous drawdown," Chhugani said.
Bernstein analysts detailed that corporate treasury buying offset massive spot ETF withdrawals and selling pressure from cryptocurrency mining operations.
"Inflows have been driven by treasury companies — particularly Strategy," they wrote.
The firm emphasized how institutional corporate buying has altered the liquidity landscape during this cycle.
