Bernstein Predicts 2026 Crypto Bear Market Reversal, Bitcoin May Bottom at $60,000

According to The Block, a recent report from the Bernstein analyst team states that despite Bitcoin currently trading at around $75,000, a 40% decline from its historical high, the current "short-term bear market cycle" in cryptocurrencies is expected to reverse within 2026. Analysts predict that Bitcoin may find a bottom in the $60,000 range (close to the previous cycle's high) and is likely to establish a higher base in the first half of 2026. The report highlights that the past two years have marked Bitcoin's "institutional cycle," with the asset under management (AUM) of spot Bitcoin ETFs increasing to approximately $165 billion. Bernstein believes that institutional inflows, U.S. policy adjustments, and considerations of sovereign assets could lay the foundation for what they call Bitcoin's "most important cycle."