Bernstein Reaffirms $150,000 Bitcoin Target Amid Shift Towards Institutional Market

Bitcoin's price has fallen approximately 27% so far in 2026, with net inflows into spot bitcoin exchange-traded funds (ETFs) and corporate treasury buyers totaling about $12 billion since the start of the year.

This is a significant drop from last year's $60 billion, which represents an 80% decrease. However, Bernstein does not view this trend pessimistically, as it believes retail investors have shifted their attention to artificial intelligence-related stocks, making bitcoin appear 'boring' in this cycle.

Corporate treasury demand remains strong, with Strategy, a company that shifted from a software firm to a bitcoin treasury strategy company, raising $7.5 billion through its preferred stock product STRC and using the funds to purchase about 100,000 BTC.