Bernstein Predicts Bitcoin Rebound to $125K by Late 2026

Wall Street research company Bernstein has forecast Bitcoin to recover from its latest downturn and set new records in the coming years, heading into the peak of its historical cycle. According to a report, Bitcoin (BTC) is expected to reclaim $125,000 by late 2026 under both its base and bull cases.

The analysts believe that Bitcoin's rebound of 28% over the previous 10 days after falling about 50% from its October 2025 peak could signal the end of the current bear cycle. The company also noted that institutional investors and corporate Bitcoin buyers have provided greater downside support during the latest cycle, contributing to a smaller drawdown than in previous cycles.

Under Bernstein's base case, Bitcoin is expected to reach $150,000 by mid-2027 before reaching a cycle peak of about $300,000 in 2029. The bull case puts the price at $200,000 by mid-2027 and $500,000 in 2029.

The company maintained its longer-term BTC target of about $1 million by 2033 under both scenarios. Bernstein's forecast is based on Bitcoin's historical four-year cycles, which it links to the halving event that cuts the amount of new Bitcoin awarded to miners roughly every four years.