Bitcoin reached $63,900 on Monday, its highest price in the last two weeks, as Bernstein analysts maintained their $150,000 price target for 2026 year-end despite the cryptocurrency falling nearly 50% from its all-time high reached last October. The investment bank cited potential regulatory clarity and Strategy remaining a net Bitcoin buyer as possible tailwinds. Bitcoin has jumped more than 6% in the last week of trading, though all gains since President Donald Trump's reelection have been erased in the last eight months.
Bitcoin Price Recovery Details
Bitcoin changed hands at $63,836 on Monday after touching $63,900 earlier in the day. The top crypto asset jumped 1.7% in the last 24 hours and more than 6% in the last week of trading. Since reaching a new all-time high price last October, Bitcoin has fallen nearly 50%.
Bernstein Maintains $150K Bitcoin Target for 2026 Year-End
Bernstein analysts kept their $150,000 Bitcoin price forecast in place despite the asset's retrace from all-time highs. "We reckon, our 2026 year-end $150K BTC price target appears ambitious in context of the market correction," analysts said. "However, we expect [the] Bitcoin cycle will eventually turn and we continue to watch the BTC flows to see any signs of life." The analysts wrote that "any crypto correction is painful, but this one has been rather comforting" and added "Crypto feels like it's growing up. We remain optimistic on Bitcoin long-term." To reach the $150,000 target, Bitcoin would need to jump nearly 135% from its current mark.
Regulatory Clarity and Institutional Adoption Prospects
Bernstein analysts pointed to potential regulatory advancement as a possible catalyst. The firm noted that odds of the Clarity Act's passage by the end of the year sit around 50%, according to Polymarket. If that regulatory advancement comes, the firm expects "more market liquidity and institutional adoption for both crypto-native assets and blockchain versions of real-world assets."
Strategy Holds Bitcoin Position with USD Reserve Coverage
Strategy, the largest publicly traded holder of Bitcoin, sold $216 million worth of BTC last week to fund dividends, extending its USD reserve to more than $2.55 billion. "Strategy continues to maintain USD reserve coverage of ~17 months for dividend and interest expenses, with any reduction below 12 months requiring board authorization," Bernstein said. "Thus, it looks unlikely any major Bitcoin forced supply could come from Strategy and it continues to be a net buyer in the market." Bernstein analysts are not anticipating that Michael Saylor and Strategy will be forced to become net sellers as the firm grapples with funding dividend obligations.
FAQ
What price did Bitcoin reach on Monday?
Bitcoin reached $63,900 on Monday, its highest price in the last two weeks, and changed hands at $63,836 later in the day.
What is Bernstein's Bitcoin price target for 2026 year-end?
Bernstein analysts maintained a $150,000 Bitcoin price target for 2026 year-end, which would require a nearly 135% jump from current levels.
How much Bitcoin did Strategy sell last week?
Strategy sold $216 million worth of Bitcoin last week to fund dividends, extending its USD reserve to more than $2.55 billion with coverage of approximately 17 months for dividend and interest expenses.
