The Wall Street research firm expects BTC to return to $125,000 by the end of 2026, which would require an increase of roughly 46% from current levels. Bernstein also sees Bitcoin reaching $150,000 by mid-2027, arguing that institutional ownership and ETF access are changing the structure of the market.
The forecast comes despite Bitcoin remaining about one-third below its October 2025 record. BTC slipped back toward $85,300 on Tuesday as a stronger dollar and persistent inflation concerns pressured risk assets.
Bernstein Sees $125K Before Year-End
Bernstein’s $125,000 target would effectively require Bitcoin to reclaim its previous record within less than three months.
The bullish case has become easier to make after BTC gained more than 40% from its earlier 2026 lows. Bitcoin has also formed a golden cross, with its 50-day moving average moving above the 200-day average: a technical signal commonly associated with strengthening long-term momentum.
That recovery follows a major turnaround in ETF demand. U.S. spot Bitcoin ETFs attracted around $6.34 billion during Q3, reversing roughly $5 billion of net outflows in the previous quarter.
Citi has also become more optimistic, recently raising its 12-month Bitcoin target from $82,000 to $113,000, citing improving crypto activity, macro conditions and renewed ETF inflows.
$87K Still Stands Between Bitcoin and $90K
The immediate chart is less dramatic than Bernstein’s long-term target.
Bitcoin has repeatedly struggled around $87,000–$87,500, making that zone the first resistance buyers need to break before $90,000 becomes a realistic near-term target.
That same level recently blocked another Bitcoin rally despite softer U.S. employment data and improving ETF demand.
